Daily Gold News: January 15 – Gold: Rebounding Above the $2,700 Level

Paul-Rejczak Paul Rejczak Jan 15, 2025

Gold price is gaining ahead of key consumer inflation release.

The gold futures contract gained 0.14% on Tuesday, January 14, as it fluctuated following its Monday’s decline of 1.3%. The market went sideways in a reaction to the important Producer Price Index release. Last Friday, gold reached a local high of $2,735, the highest since early December. Recently, it kept moving sideways despite a series of economic data releases. On December 20, the market rebounded from its post-Fed local lows of around $2,600.

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 October 29 record high of $2,801.80, reaching a local low of $2,541.50.

This morning, gold is rebounding and retracing some of its Monday’s decline, as we can see on the daily chart (the chart includes today’s intraday data):

Daily Gold News: January 15 – Gold: Rebounding Above the $2,700 Level - Image 1

The gold price is 0.9% higher, as it is trading above the $2,700 level. What about the other precious metals? Silver is 1.2% higher, platinum is 0.4% higher and palladium is 2.1% higher. So, the main precious metals’ prices are higher this morning.

Yesterday’s Producer Price Index release has been lower than expected at +0.2% month-over-month. Today, we will get the Consumer Price Index number at 8:30 a.m., among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).

Wednesday, January 15

  • 2:00 a.m. U.K. - CPI y/y, Core CPI y/y
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y, Empire State Manufacturing Index
  • 9:20 a.m. U.S. - FOMC Member Barkin Speech
  • 10:00 a.m. U.S. - FOMC Member Kashkari Speech
  • 11:00 a.m. U.S. - FOMC Member Williams Speech
  • 12:00 p.m. U.S. - FOMC Member Goolsbee Speech
  • 2:00 p.m. U.S. - Beige Book
  • 7:30 p.m. Australia - Employment Change, Unemployment Rate

Thursday, January 16

  • 2:00 a.m. U.K. - GDP m/m
  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Unemployment Claims, Philly Fed Manufacturing Index, Import Prices m/m
  • 10:00 a.m. U.S. - Business Inventories m/m, NAHB Housing Market Index
  • 11:00 a.m. U.S. - FOMC Member Williams Speech
  • 9:00 p.m. China - GDP q/y, Industrial Production y/y, Retail Sales y/y

Paul Rejczak
Stock Trading Strategist