Daily Gold News: Thursday, August 18 – Gold Price Bounces

Gold Price Recap

The gold futures contract lost 0.73% on Wednesday, August 17, as it extended its recent declines after breaking below the $1,800 price level. Last week on Wednesday the market reached new local high of $1,824.60 following lower-than-expected Consumer Price Index release. This morning gold is retracing some of its yesterday’s decline, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.4% higher this morning, as it is bouncing from the $1,775 level. What about the other precious metals? Silver is 0.2% higher, platinum is 0.4% higher and palladium is 1.3% higher. So the main precious metals’ prices are slightly higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Retail Sales release has been slightly lower than expected at 0.0% m/m. Today we will get the Philly Fed Manufacturing Index and Unemployment Claims releases, among others.

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

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

Friday, August 19

  • No important economic data releases

Paul Rejczak
Stock Trading 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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