Gold price rallied on Bank of Japan news, but today it’s trading sideways.
The gold futures contract gained 1.54% on Tuesday, Dec. 20, as it reacted to the Bank of Japan monetary policy release. It got closer to the local highs again. Last week on Tuesday gold price reached new local high of $1,836.90 and it was the highest since the end of June, but then it came back below the 1,800 level. Recently the yellow metal fluctuated following Central Banks’ monetary policy releases, stock markets’ declines. It was the highest since the end of June. This morning gold is trading along its yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):
Today the gold price is 0.2% lower, and it is still trading above the $1,800 level. What about the other precious metals? Silver is 1.1% lower, platinum is 1.2% lower and palladium is 1.3% lower. So the main precious metals’ prices are lower this morning.
Yesterday’s Building Permits/ Housing Starts releases have been mixed. Today we will get the important CB Consumer Confidence release at 10:00 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Wednesday, December 21
- 8:30 a.m. U.S. - Current Account
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
- 10:00 a.m. U.S. - CB Consumer Confidence, Existing Home Sales
Thursday, December 22
- 8:30 a.m. U.S. - Final GDP q/q, Final GDP Price Index q/q, Unemployment Claims
- 10:00 a.m. U.S. - CB Leading Index m/m
Paul Rejczak
Stock Trading Strategist