Daily Gold News: Wednesday, August 17 – Gold Trades Below the Recent Consolidation
Gold Price Recap
The gold futures contract lost 0.47% on Tuesday, August 16, as it extended its Monday’s decline of 1% on strengthening U.S. dollar, among other factors. Last week on Wednesday the market reached new local high of $1,824.60 following lower-than-expected Consumer Price Index release. And this morning gold is trading along yesterday’s daily low, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Yesterday’s Building Permits/ Housing Starts releases have been mixed and the Industrial Production release has been higher than expected. Today we will get the important Retail Sales release at 8:30 a.m. and the FOMC Meeting Minutes release at 2:00 p.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Wednesday, August 17
- 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m
- 10:00 a.m. U.S. – Business Inventories m/m
- 2:00 p.m. U.S. – FOMC Meeting Minutes
- 9:30 p.m. Australia – Employment Change, Unemployment Rate
Thursday, August 18
- 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims
- 10:00 a.m. U.S. – Existing Home Sales, CB Leading Index m/m
- 1:20 p.m. U.S. – FOMC Member George Speech
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