Daily Gold Update: Tuesday, November 15 – Gold Reached New Medium-Term High

Gold Price Recap

The gold futures contract gained 0.42% on Monday, November 14, as it further extended its recent advances on weakening U.S. dollar, rallying stock markets. Last week on Thursday gold rallied following lower-than-expected Consumer Price Index release. This morning it’s trading sideways after reaching new medium-term high, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.2% higher, as it is trading above the $1,770 price level. What about the other precious metals? Silver is 0.5% lower, platinum is 0.5% higher and palladium is 1.8% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Today we will get the important Producer Price Index release 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.

Tuesday, November 15

  • 5:00 a.m. U.K. – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Empire State Manufacturing Index
  • 9:00 a.m. U.S. – FOMC Member Cook Speech
  • 10:00 a.m. U.S. – FOMC Member Barr Speech
  • All Day – G20 Meetings

Wednesday, November 16

  • 2:00 a.m. U.K. – CPI y/y, Core CPI y/y
  • 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
  • 8:30 a.m. Canada – CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
  • 9:15 a.m. U.K. – Monetary Policy Report Hearings
  • 9:50 a.m. U.S. – FOMC Member Williams Speech
  • 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index, FOMC Member Barr Speech
  • 10:00 a.m. Eurozone – ECB President Lagarde Speech
  • 2:35 p.m. U.S. – FOMC Member Waller Speech
  • 7:30 p.m. Australia – Employment Change, Unemployment Rate
  • Tentative, Eurozone – ECB Financial Stability Review
  • All Day – G20 Meetings

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

* * * * *

Disclaimer

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.

 

S&P 500 Reached 4,000 – Is Bear Market Over?

The S&P 500 index gained 0.92% on Friday following its Thursday’s rally of 5.5%. The market remained bullish after the Thursday’s Consumer Price Index release and the broad stock market’s gauge went the highest since September 13. On Friday, the daily high was at 4,001.48.

This morning the S&P 500 index is expected to start 0.3% lower. We may see a profit-taking action at some point. However, there have been no confirmed negative signals so far.

The S&P 500 index broke above its previous local highs last week and it got to the 4,000 level, as we can see on the daily chart.

Chart by courtesy of stockcharts.com

Futures Contract – Short-Term Uncertainty

Let’s take a look at the hourly chart of the S&P 500 futures contract. It went slightly above the 4,000 level on Friday. For now, it looks like a flat correction within an uptrend or a short-term consolidation. The resistance level is at 4,000-4,050, among others.

In our opinion, no positions are currently justified from the risk/reward point of view.

Chart by courtesy of tradingview.com

Conclusion

The stock market will likely fluctuate following its last week’s Thursday’s-Friday’s huge rally. The S&P 500 index may take a breather, as it got to the 4,000 level last week. We may see some profit-taking action in the day, as the market seems overbought in the short-term. However, there have been no confirmed negative signals so far.

Here’s the breakdown:

  • The S&P 500 may remain below the 4,000 level for some time, as investors are likely to take short-term profits off the table.
  • For now, it looks like a consolidation within an uptrend.

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Thank you.

Paul Rejczak,

Stock Trading Strategist

Sunshine Profits: Effective Investments through Diligence and Care

* * * * *

The information above represents analyses and opinions of Paul Rejczak & Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. At the time of writing, we base our opinions and analyses on facts and data sourced from respective essays and their authors. Although formed on top of careful research and reputably accurate sources, Paul Rejczak and his associates cannot guarantee the reported data’s accuracy and thoroughness. The opinions published above neither recommend nor offer any securities transaction. Mr. Rejczak is not a Registered Securities Advisor. By reading his 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, affiliates as well as their family members 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.

 

Daily Gold Update: Monday, November 14 – Gold Price Remains Close to $1,750

Gold Price Recap

The gold futures contract gained 0.90% on Friday, November 11, as it extended its uptrend after breaking above the $1,750 price level. On Thursday it rallied 2.3% following lower-than-expected Consumer Price Index release, weakening U.S. dollar and rallying stock markets. This morning gold is retracing its Friday’s advance, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.8% lower, as it is still trading above the $1,750 price level. What about the other precious metals? Silver is 1.2% lower, platinum is 2.3% lower and palladium is 3.9% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Friday’s UoM Consumer Sentiment release has been lower than expected at 54.7. Today we won’t get any new important economic data releases. However, there will be a speech from the FOMC Member Brainard at 11:30 a.m.

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

Monday, November 14

  • 11:30 a.m. U.S. – FOMC Member Brainard Speech
  • 7:30 p.m. Australia – Monetary Policy Meeting Minutes
  • 9:00 p.m. China – Retail Sales y/y
  • Tentative, U.K. – Monetary Policy Report Hearings

Tuesday, November 15

  • 5:00 a.m. U.K. – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Empire State Manufacturing Index
  • 9:00 a.m. U.S. – FOMC Member Cook Speech
  • 10:00 a.m. U.S. – FOMC Member Barr Speech
  • All Day – G20 Meetings

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

* * * * *

Disclaimer

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.

Daily Gold Update: Friday, November 11 – Gold Rallied on Inflation Data

Gold Price Recap

The gold futures contract gained 2.33% on Thursday, November 10, as it broke above the early October highs following lower-than-expected Consumer Price Index release, weakening U.S. dollar, rallying stock markets. Gold broke above the $1,750 price level yesterday. This morning it is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.2% higher, as it is trading above the $1,750 price level. What about the other precious metals? Silver is 1.1% lower, platinum is 0.5% higher and palladium is 1.4% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Yesterday’s Consumer Price Index release has been lower than expected at +0.4% m/m and +7.7% y/y. It led to a big sell-off in U.S. dollar. Today we will get the UoM Consumer Sentiment release at 10:00 a.m.

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

Friday, November 11

  • 2:00 a.m. U.K. – GDP m/m, Preliminary GDP q/q
  • 5:00 a.m. Eurozone – EU Economic Forecasts
  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
  • All Day, Eurozone – ECOFIN Meetings
  • All Day, U.S., Canada – Bank Holiday
  • All Day, Eurozone – French Bank Holiday

Monday, November 14

  • 7:30 p.m. Australia – Monetary Policy Meeting Minutes
  • 9:00 p.m. China – Retail Sales y/y
  • Tentative, U.K. – Monetary Policy Report Hearings

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

* * * * *

Disclaimer

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.

Daily Gold : Thursday, November 10 – Gold Fluctuates Ahead of U.S. Inflation Data

Gold Price Recap

The gold futures contract lost 0.13% on Wednesday, November 9, as it fluctuated following its Tuesday’s rally of 2.1%. On Tuesday the market broke above a short-term consolidation on strengthening U.S. dollar, advancing stock markets. It rallied above the $1,700 price level and it was the highest since the early October. Gold got closer to its previous local highs of around $1,735-1,740. This morning it is trading within a short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.1% higher, as it is still trading above the $1,700 price level. What about the other precious metals? Silver is 0.3% higher, platinum is 0.8% higher and palladium is 2.4% lower. So the main precious metals’ prices are slightly higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Wholesale Inventories release has been lower than expected at +0.6%. Today we will get the important Consumer Price Index release at 8:30 a.m., among others. It is expected at +0.6% m/m.

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

Thursday, November 10

  • 2:00 a.m. U.S. – FOMC Member Waller Speech
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m, CPI y/y, Unemployment Claims
  • 11:50 a.m. Canada – BOC Governor Macklem Speech
  • 12:30 p.m. U.S. – FOMC Member Mester Speech
  • 1:30 p.m. U.S. – FOMC Member George Speech

Friday, November 11

  • 2:00 a.m. U.K. – GDP m/m, Preliminary GDP q/q
  • 5:00 a.m. Eurozone – EU Economic Forecasts
  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
  • All Day, Eurozone – ECOFIN Meetings
  • All Day, U.S., Canada – Bank Holiday
  • All Day, Eurozone – French Bank Holiday

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

* * * * *

Disclaimer

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.

 

Daily Gold News: Wednesday, November 9 – Gold Price Remains Above $1,700

Gold Price Recap

The gold futures contract gained 2.11% on Tuesday, November 8, as it broke above a short-term consolidation on strengthening U.S. dollar, advancing stock markets. The market broke above the $1,700 price level and it was the highest since the early October. Gold got closer to its previous local highs of around $1,735-1,740 yesterday. This morning it is trading along yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.2% lower, as it is trading above the $1,700 price level. What about the other precious metals? Silver is 0.1% lower, platinum is 0.2% lower and palladium is 0.3% lower. So the main precious metals’ prices are slightly lower this morning.

Fundamentals and Economic News Schedule

Today we will get the Wholesale Inventories release at 10:00 a.m. The markets will await the outcome of yesterday’s U.S. Congressional Elections and tomorrow’s important consumer inflation number release.

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

Wednesday, November 9

  • 3:00 a.m. U.S. – FOMC Member Williams Speech
  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m
  • 1:01 p.m. U.S. – 10-y Bond Auction

Thursday, November 10

  • 2:00 a.m. U.S. – FOMC Member Waller Speech
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m, CPI y/y, Unemployment Claims
  • 11:50 a.m. Canada – BOC Governor Macklem Speech
  • 12:30 p.m. U.S. – FOMC Member Mester Speech
  • 1:30 p.m. U.S. – FOMC Member George Speech

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

* * * * *

Disclaimer

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.

Daily Gold Update: Tuesday, November 8 – Gold Goes Sideways Ahead of the U.S. Elections

Gold Price Recap

The gold futures contract gained 0.23% on Monday, November 7, as it fluctuated following its Friday’s advance of 2.8%. On Friday it went the highest since mid-October after the U.S. monthly jobs data release. On Thursday, November 3, it reached new medium-term low of $1,618.30 on strengthening U.S. dollar, stock markets’ sell-off following Wednesday’s FOMC interest rate hike. So gold sharply reversed its downtrend last week. This morning it is extending a short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.2% lower, as it is still trading along the Friday’s closing price. What about the other precious metals? Silver is 0.3% lower, platinum is 0.5% lower and palladium is 1.2% lower. So the main precious metals’ prices are slightly lower this morning.

Fundamentals and Economic News Schedule

We won’t get any new important economic data releases, however, the markets will await today’s U.S. Congressional Elections outcome.

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

Tuesday, November 8

  • 4:30 a.m. Australia – RBA Governor Lowe Speech
  • 6:00 a.m. U.S. – NFIB Small Business Index
  • Tentative, U.S. – IBD/TIPP Economic Optimism
  • All Day, U.S. – Congressional Elections

Wednesday, November 9

  • 3:00 a.m. U.S. – FOMC Member Williams Speech
  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m
  • 1:01 p.m. U.S. – 10-y Bond Auction

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

* * * * *

Disclaimer

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.

Daily Gold Update: Monday, November 7 – Gold Fluctuates Following Friday’s Rally

Gold Price Recap

The gold futures contract gained 2.80% on Friday, November 4, as it went the highest since mid-October following the U.S. monthly jobs data release. On Thursday, November 3, it reached new medium-term low of $1,618.30 on strengthening U.S. dollar, stock markets’ sell-off following Wednesday’s FOMC interest rate hike. So gold sharply reversed its downtrend last week. This morning it is trading along the Friday’s daily high, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.2% lower, as it is trading along the $1,680 price level. What about the other precious metals? Silver is 0.7% lower, platinum is 0.4% higher and palladium is 0.2% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Friday’s Non-Farm Employment Change release has been higher than expected at +261,000 and the Unemployment Rate release has also been higher than expected at 3.7%. Today, we won’t get any new important economic data releases. However, there will be some speeches from the FOMC Members.

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

Monday, November 7

  • 3:00 p.m. U.S. – Consumer Credit m/m
  • 3:40 p.m. U.S. – FOMC Member Mester Speech, FOMC Member Collins Speech
  • All Day, Eurozone – Eurogroup Meetings

Tuesday, November 8

  • 4:30 a.m. Australia – RBA Governor Lowe Speech
  • 6:00 a.m. U.S. – NFIB Small Business Index
  • Tentative, U.S. – IBD/TIPP Economic Optimism
  • All Day, U.S. – Congressional Elections

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

* * * * *

Disclaimer

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.

Daily Gold Update: Friday, November 4 – Gold Advances Ahead of U.S. Jobs Data

Gold Price Recap

The gold futures contract lost 1.16% on Thursday, November 3, as it reached new medium-term low of $1,618.30 on strengthening U.S. dollar, stock markets’ sell-off following Wednesday’s FOMC interest rate hike. On Wednesday the market went above the $1,670 price level, but then it quickly retraced the advance after hawkish comments from the Fed Chair Powell. This morning gold is retracing that decline, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 1.4% higher, as it is trading above the $1,650 price level again. What about the other precious metals? Silver is 2.3% higher, platinum is 1.9% higher and palladium is 1.3% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s ISM Services PMI release has been lower than expected at 54.4. Today we will get the important Non-Farm Employment Change release along with the Unemployment Rate on 8:30 a.m.

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

Friday, November 4

  • 5:30 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate
  • 10:00 a.m. U.S. – FOMC Member Collins Speech

Monday, November 7

  • 3:00 p.m. U.S. – Consumer Credit m/m
  • 3:40 p.m. U.S. – FOMC Member Mester Speech, FOMC Member Collins Speech
  • All Day, Eurozone – Eurogroup Meetings

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

* * * * *

Disclaimer

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.

Daily Gold Update: Thursday, November 3 – Gold Price Going Down After Fed

Gold Price Recap

The gold futures contract gained 0.02% on Wednesday, November 2 after a volatile trading session, as investors reacted to the FOMC interest rate hike announcement. The market went above the $1,670 price level, but then it quickly retraced the advance following hawkish comments from the Fed Chair Powell. This morning gold is extending a short-term decline after breaking below the $1,650 level, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.9% lower, as it is trading along the $1,620 price level. What about the other precious metals? Silver is 1.3% lower, platinum is 1.8% lower and palladium is 1.9% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Yesterday’s ADP Non-Farm Employment Change release has been better than expected at +239,000, and the Fed raised interest rates by 0.75%. Today we will get the ISM Services PMI release, among others. The markets will be waiting for tomorrow’s monthly jobs data.

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

Thursday, November 3

  • 4:05 a.m. Eurozone – ECB President Lagarde Speech
  • 8:00 a.m. U.K. – BOE Monetary Policy Report, MPC Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate
  • 8:30 a.m. U.S. – Unemployment Claims, Preliminary Nonfarm Productivity q/q, Preliminary Unit Labor Costs q/q, Trade Balance
  • 8:30 a.m. U.K. – BOE Governor Bailey Speech
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI, Factory Orders m/m
  • 8:30 p.m. Australia – RBA Monetary Policy Statement

Friday, November 4

  • 5:30 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate
  • 10:00 a.m. U.S. – FOMC Member Collins Speech

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

* * * * *

Disclaimer

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.

S&P 500 Remains Below 3,900 Ahead of Fed’s Policy Release

The S&P 500 index lost 0.41% on Tuesday, following its Monday’s loss of 0.8%, as it continued to trade along the 3,900 level. Last week it extended an uptrend from the October 13 new medium-term low of 3,491.58. The market went up to the resistance level of 3,900 and since Friday it has been fluctuating below the 3,900 level.

This morning the S&P 500 index is expected to open 0.1% lower on better-than-expected ADP Non-Farm Employment Change release. The market will be waiting for the Fed’s Monetary Policy release at 2:00 p.m. and their Conference at 2:30 p.m. So we’ll likely see an increased volatility later in the day.

The S&P 500 index continues to trade above the upward trend line, as we can see on the daily chart:

Chart by courtesy of http://stockcharts.com

Futures Contract is Below the 3,900 Level Again

Let’s take a look at the hourly chart of the S&P 500 futures contract. It’s trading below the 3,900 level this morning. The resistance level is at 3,900-3,950, and the nearest important support level is at around 3,840-3,850. The market remains above a two-week-long upward trend line.

Chart by courtesy of http://tradingview.com

Conclusion

This morning stocks will open virtually flat, but later in the day we will likely see an increased volatility and a much bigger trading range. Despite the interest rates uncertainty, there have been no confirmed negative signals so far.

Here’s the breakdown:

  • The S&P 500 index continued to trade along the 3,900 level yesterday
  • Stock prices will likely react to today’s FOMC release.

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Thank you.

Paul Rejczak,

Stock Trading Strategist

Sunshine Profits: Effective Investments through Diligence and Care

* * * * *

The information above represents analyses and opinions of Paul Rejczak & Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. At the time of writing, we base our opinions and analyses on facts and data sourced from respective essays and their authors. Although formed on top of careful research and reputably accurate sources, Paul Rejczak and his associates cannot guarantee the reported data’s accuracy and thoroughness. The opinions published above neither recommend nor offer any securities transaction. Mr. Rejczak is not a Registered Securities Advisor. By reading his 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, affiliates as well as their family members 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.

Daily Gold News: Wednesday, November 2 – Gold Fluctuates Ahead of Today’s FOMC

Gold Price Recap

The gold futures contract gained 0.55% on Tuesday, November 1, as it continued to fluctuate following its Friday’s drop of 1.3%. The market remains close to the $1,650 price level. On October 21 gold fell to the new medium-term low of $1,621.10 and last week it reached a local high of $1,679.40. This morning gold price is trading along yesterday’s daily high, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.4% higher, as it is trading above the $1,650 price level. What about the other precious metals? Silver is 0.3% higher, platinum is 0.4% higher and palladium is 1.2% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s ISM Manufacturing PMI release has been slightly higher than expected at 50.2 and the JOLTS Job Openings release has also been higher than expected at 10.72 million. The markets will be waiting for today’s FOMC Statement release at 2:00 p.m. and the FOMC Press Conference at 2:30 p.m. We will also get the ADP Non-Farm Employment Change release at 8:15 a.m.

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

Wednesday, November 2

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate
  • 2:30 p.m. U.S. – FOMC Press Conference
  • All Day, Japan – Bank Holiday

Thursday, November 3

  • 4:05 a.m. Eurozone – ECB President Lagarde Speech
  • 8:00 a.m. U.K. – BOE Monetary Policy Report, MPC Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate
  • 8:30 a.m. U.S. – Unemployment Claims, Preliminary Nonfarm Productivity q/q, Preliminary Unit Labor Costs q/q, Trade Balance
  • 8:30 a.m. U.K. – BOE Governor Bailey Speech
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI, Factory Orders m/m
  • 8:30 p.m. Australia – RBA Monetary Policy Statement

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

* * * * *

Disclaimer

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.

 

Daily Gold Update: Tuesday, November 1 – Gold Price Bounces

Gold Price Recap

The gold futures contract lost 0.25% on Monday, October 31, as it slightly extended its Friday’s drop of 1.3%. The market continues to fluctuate following the early October sell-off and a breakdown below the $1,700 level. On October 21 gold fell to the new medium-term low of $1,621.10 and last week it reached a local high of $1,679.40. This morning gold price is bouncing, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 1.3% higher, as it is trading above the $1,650 price level again. What about the other precious metals? Silver is 4.5% higher, platinum is 2.3% higher and palladium is 3.1% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Chicago PMI release has been slightly lower than expected at 45.2. Today we will get the ISM Manufacturing PMI release at 10:00 a.m., among others. The markets will be waiting for tomorrow’s FOMC Statement release and Friday’s monthly jobs data release.

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

Tuesday, November 1

  • 4:20 a.m. Australia – RBA Governor Lowe Speech
  • 9:45 a.m. U.S. – Final Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI, JOLTS Job Openings, Construction Spending m/m, ISM Manufacturing Prices
  • 6:30 p.m. Canada – BOC Governor Macklem Speech
  • All Day, U.S. – Wards Total Vehicle Sales
  • All Day, Eurozone – French Bank Holiday, Italian Bank Holiday

Wednesday, November 2

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate
  • 2:30 p.m. U.S. – FOMC Press Conference
  • All Day, Japan – Bank Holiday

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

* * * * *

Disclaimer

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.

Daily Gold Update: Monday, October 31 – Gold Price Remains Close to $1,650

Gold Price Recap

The gold futures contract lost 1.25% on Friday, October 28, as it got back below the $1,650 price level despite weaker U.S. dollar, advancing stock markets. The market extended its consolidation following the early October sell-off and a breakdown below the $1,700 level. On Friday, October 21 it fell to the new medium-term low of $1,621.10, but on the same day it bounced above the $1,650 level on Bank of Japan currency intervention, among other factors.

Gold reached a local high of $1,679.40 on Wednesday, and since then it has been declining. This morning gold price trading within a relatively narrow range, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.3% lower, as it is trading slightly below to the $1,650 price level. What about the other precious metals? Silver is 0.6% lower, platinum is 1.4% lower and palladium is 1.5% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Friday’s important Core PCE Price Index release has been as expected at +0.5% m/m. Today we will get the Chicago PMI release at 9:45 a.m. The markets will be waiting for Wednesday’s FOMC Statement release and Friday’s monthly jobs data release,

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

Monday, October 31

  • 6:00 a.m. Eurozone – CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Preliminary Flash GDP q/q
  • 9:45 a.m. U.S. – Chicago PMI
  • Tentative, U.S. – Loan Officer Survey
  • 11:30 p.m. Australia – Cash Rate, RBA Rate Statement

Tuesday, November 1

  • 4:20 a.m. Australia – RBA Governor Lowe Speech
  • 9:45 a.m. U.S. – Final Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI, JOLTS Job Openings, Construction Spending m/m, ISM Manufacturing Prices
  • 6:30 p.m. Canada – BOC Governor Macklem Speech
  • All Day, U.S. – Wards Total Vehicle Sales
  • All Day, Eurozone – French Bank Holiday, Italian Bank Holiday

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

* * * * *

Disclaimer

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.

Daily Gold Update: Friday, October 28 – Gold Price is at $1,650 Again

Gold Price Recap

The gold futures contract lost 0.22% on Thursday, October 17, as it continued to fluctuate following its recent rebound. Last Friday it fell to the new medium-term low of $1,621.10, but on the same day it bounced above the $1,650 level on Bank of Japan currency intervention, among other factors. Gold reached a local high of $1,679.40 on Wednesday, and since then it has been fluctuating. This morning gold price is retracing more of its recent advances, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 1.0% lower, as it is trading along to the $1,650 price level. What about the other precious metals? Silver is 2.1% lower, platinum is 1.5% lower and palladium is 1.2% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Yesterday’s important U.S. Advance GDP release has been higher than expected at +2.6% q/q. Today we will get the Core PCE Price Index release 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.

Friday, October 28

  • 2:30 a.m. Japan – BOJ Press Conference
  • 8:30 a.m. U.S. – Core PCE Price Index m/m, Personal Income m/m, Personal Spending m/m, Employment Cost Index q/q
  • 8:30 a.m. Canada – GDP m/m
  • 10:00 a.m. U.S. – Pending Home Sales m/m, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations

Monday, October 31

  • 6:00 a.m. Eurozone – CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Preliminary Flash GDP q/q
  • 9:45 a.m. U.S. – Chicago PMI
  • Tentative, U.S. – Loan Officer Survey
  • 11:30 p.m. Australia – Cash Rate, RBA Rate Statement

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

* * * * *

Disclaimer

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.

Daily Gold Update: Friday, October 21 – Gold Bounces From New Medium-Term Low

Gold Price Recap

The gold futures contract gained 0.16% on Thursday, October 20, as it fluctuated following its recent declines. On Wednesday the market broke below the $1,650 level on strong U.S. dollar, stock markets’ uncertainty. On September 28 gold bounced from the new medium-term low. It was the lowest since the Spring. Then gold price has been driven higher by the U.S. dollar reversal, stock markets’ advances. On October 4 the daily high was at $1,738.70. This morning gold is bouncing from the new medium-term low along the $1,620 level, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.1% lower, as it is trading closer to the $1,620 price level. What about the other precious metals? Silver is 1.4% lower, platinum is 0.6% lower and palladium is 1.8% lower. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Yesterday’s Philly Fed Manufacturing Index release has been worse than expected at -8.7. Today we won’t get any new important economic data releases.

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

Friday, October 21

  • 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
  • 9:10 a.m. U.S. – FOMC Member Williams Speech

Monday, October 24

  • 3:15 a.m. Eurozone – French Flash Services PMI, French Flash Manufacturing PMI
  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 4:30 a.m. U.K. – Flash Manufacturing PMI, Flash Services PMI
  • 9:45 a.m. U.S. – Flash Services PMI, Flash Manufacturing PMI
  • 11:00 a.m. U.S. – Treasury Secretary Yellen Speech

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

* * * * *

Disclaimer

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.

Daily Gold Update: Thursday, October 20 – Gold Price Bounces From New Low

Gold Price Recap

The gold futures contract lost 1.30% on Wednesday, October 19, as it broke below the short-term consolidation along the $1,640 price level on strong U.S. dollar, stock markets’ uncertainty. On September 28 gold bounced from the new medium-term low of $1,622.20. It was the lowest since the Spring.

Then gold price has been driven higher by the U.S. dollar reversal, stock markets’ advances. On October 4 the daily high was at $1,738.70. This morning gold is bouncing from the new short-term low, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.5% higher, as it is still trading below the $1,650 price level. What about the other precious metals? Silver is 1.5% higher, platinum is 1.4% higher and palladium is 1.1% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Building Permits/ Housing Starts releases have been mixed. Today we will get the Philly Fed Manufacturing Index, 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, October 20

  • 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
  • 1:30 p.m. U.S. – FOMC Member Jefferson Speech
  • 1:45 p.m. U.S. – FOMC Member Cook Speech
  • 2:05 p.m. U.S. – FOMC Member Bowman Speech

Friday, October 21

  • 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
  • 9:10 a.m. U.S. – FOMC Member Williams Speech

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

* * * * *

Disclaimer

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.

Daily Gold Update: Wednesday, October 19 – Gold Breaks Lower on Stronger U.S. Dollar

Gold Price Recap

The gold futures contract lost 0.49% on Tuesday, October 18, as it extended its short-term consolidation following the recent declines. On September 28 gold bounced from the new medium-term low of $1,622.20. It was the lowest since the Spring. Then gold price has been driven higher by the U.S. dollar reversal, stock markets’ advances. On October 4 the daily high was at $1,738.70. This morning gold price is breaking below its short-term local lows on stronger U.S. dollar, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 1.2% lower, as it is trading below the $1,650 price level. What about the other precious metals? Silver is 1.6% lower, platinum is 2.1% lower and palladium is 2.5% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Yesterday’s Industrial Production release has been higher than expected at +0.4% m/m. Today we will get the Building Permits/ Housing Starts releases, among others.

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

Wednesday, October 19

  • 2:00 a.m. U.K. – CPI y/y
  • 8:30 a.m. U.S. – Building Permits, Housing Starts
  • 8:30 a.m. Canada – CPI m/m
  • 2:00 p.m. U.S. – Beige Book
  • 6:30 p.m. U.S. – FOMC Member Bullard Speech
  • 8:30 p.m. Australia – Unemployment Rate, Employment Change

Thursday, October 20

  • 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
  • 1:30 p.m. U.S. – FOMC Member Jefferson Speech
  • 1:45 p.m. U.S. – FOMC Member Cook Speech
  • 2:05 p.m. U.S. – FOMC Member Bowman Speech

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

* * * * *

Disclaimer

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.

Daily Gold Update: Tuesday, October 18 – Gold’s Short-Term Consolidation

Gold Price Recap

The gold futures contract gained 0.92% on Monday, October 17, as it continued to fluctuate within a short-term consolidation following the recent declines. On Friday the market fell to the new medium-term low of $1,645.60 on stronger U.S. dollar and stock markets’ rout.

On September 28 gold bounced from the new medium-term low of $1,622.20. It was the lowest since the Spring. Then gold price has been driven higher by the U.S. dollar reversal, stock markets’ advances. The previous Tuesday’s high was at $1,738.70. This morning gold price is going sideways, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.2% higher, as it is trading along the $1,650 price level. What about the other precious metals? Silver is 0.4% higher, platinum is 0.3% higher and palladium is 1.2% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Empire State Manufacturing Index release has been lower than expected at -9.1. Today we will get the Industrial Production release at 9:15 a.m., among others.

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

Tuesday, October 18

  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. – NAHB Housing Market Index
  • 4:00 p.m. U.S. – TIC Long-Term Purchases

Wednesday, October 19

  • 2:00 a.m. U.K. – CPI y/y
  • 8:30 a.m. U.S. – Building Permits, Housing Starts
  • 8:30 a.m. Canada – CPI m/m
  • 2:00 p.m. U.S. – Beige Book
  • 6:30 p.m. U.S. – FOMC Member Bullard Speech
  • 8:30 p.m. Australia – Unemployment Rate, Employment Change

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

* * * * *

Disclaimer

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.

Daily Gold Update: Monday, October 17 – Gold Price Remains Above $1,650

Gold Price Recap

The gold futures contract lost 1.68% on Friday, October 14, as it retraced its Thursday’s rebound. The market fell to the new medium-term low of $1,645.60 on stronger U.S. dollar and declining stock markets.

On September 28 gold bounced from the new medium-term low of $1,622.20. It was the lowest since the Spring of 2020 on strong U.S. dollar, stock markets’ rout. Then gold price has been driven higher by the U.S. dollar reversal, stock markets’ advances. The previous Tuesday’s high was at $1,738.70. This morning gold is retracing some of its Friday’s decline, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.7% higher, as it is trading above the $1,650 price level again. What about the other precious metals? Silver is 1.3% higher, platinum is 1.3% higher and palladium is 0.4% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Friday’s Retail Sales release has been lower than expected at 0.0% m/m and the Core Retail Sales release has been higher than expected at +0.1% m/m. Today we will get the Empire State Manufacturing Index release at 8:30 a.m.

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

Monday, October 17

  • 8:30 a.m. U.S. – Empire State Manufacturing Index
  • 10:00 p.m. China – GDP q/y, Retail Sales y/y

Tuesday, October 18

  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. – NAHB Housing Market Index
  • 4:00 p.m. U.S. – TIC Long-Term Purchases

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

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Disclaimer

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.