Monday, August 16 – Gold Closer to $1,800 Again

The gold futures contract gained 1.51% on Friday, as it extended its short-term uptrend from last Monday’s local low of 1,675.90. The market has retraced more of its previous Friday’s-Monday’s sell-off. On Friday it came back closer to mid-July consolidation along the $1,800 price level. This morning, gold is trading along Friday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% lower, as it is trading slightly below its last Friday’s daily high of $1,781.90. What about the other precious metals? Silver is 1.0% lower, platinum is 1.7% lower and palladium is 1.2% lower. So precious metals’ prices are lower this morning.

Friday’s Producer Price Index Consumer Sentiment release has been much worse than expected at 70.2. Today we will get the Empire State Manufacturing Index, TIC Long-Term Purchases releases. But the markets will be waiting for tomorrow’s important Retail Sales release and the Fed Chair Powell speech.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, August 16

  • 8:30 a.m. U.S. – Empire State Manufacturing Index
  • 4:00 p.m. U.S. – TIC Long-Term Purchases

Tuesday, August 17

  • 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
  • 1:30 p.m. U.S. – Fed Chair Powell Speech

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.



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