Gold is fluctuating following its recent advances; economic data in focus.
The gold futures contract gained 0.36% on Monday, February 17, as it rebounded after its Friday’s 1.5% decline. On Friday, gold pulled back, breaking below the $2,900 level, retracing some o its recent rally. Last Tuesday, gold reached a new record high of $2,968.50.
On November 14, gold was the lowest since mid-September after dropping in a reaction to the presidential elections. Gold extended its decline from the late October high, reaching a local low of $2,541.50.
This morning, gold is extending its yesterday’s rebound, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.5% higher, as it is trading along the $2,930 level. What about the other precious metals? Silver is 0.4% higher, platinum is 0.5% higher and palladium is 0.5% lower. So, the main precious metals’ prices are higher this morning.
Friday’s Retail Sales release has been lower than expected at -0.9% month-over-month. Today, we will get a series of economic data and speeches from the FOMC Members.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, February 18
- 2:00 a.m. U.K. - Claimant Count Change, Average Earnings Index 3m/y, Unemployment Rate
- 4:30 a.m. U.K. - BOE Governor Bailey Speech
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 8:30 a.m. U.S. - Empire State Manufacturing Index
- 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. - NAHB Housing Market Index
- 10:20 a.m. U.S. - FOMC Member Daly Speech
- 1:00 p.m. U.S. - FOMC Member Barr Speech
- 4:00 p.m. U.S. - TIC Long-Term Purchases
- 7:30 p.m. Australia - Wage Price Index q/q
- 9:00 p.m., U.S. - President Trump Speech
- All Day, Eurozone - ECOFIN Meetings
Wednesday, February 19
- 2:00 a.m. U.K. - CPI y/y
- 8:30 a.m. U.S. - Building Permits, Housing Starts
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 5:00 p.m. U.S. - FOMC Member Jefferson Speech
- 7:30 p.m. Australia - Employment Change, Unemployment Rate
- 8:00 p.m. China - 1-y Loan Prime Rate, 5-y Loan Prime Rate
Paul Rejczak
Stock Trading Strategist