Daily Gold News: Monday, Dec. 14 – Gold Trading Along Recent Lows

The gold futures contract gained 0.34% on Friday, as it continued to fluctuate following last week’s Wednesday’s decline of almost 2%. In late November the market has reached a new low after breaking below local lows along the price level of $1,850. The market bounced off its mid-November local highs, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.8% lower this morning, as it is trading slightly below its short-term local lows. What about the other precious metals? Silver lost 0.01% on Friday and today it is 0.4% lower. Platinum lost 0.57% and today it is 1.5% higher. Palladium lost 0.1% on Friday and today it’s 0.5% higher. So precious metals are mixed this morning .

Friday’s U.S. Producer Price Index release has been as expected at +0.1%. Today we won’t get any new important economic data releases. The markets will be waiting for Wednesday’s FOMC Statement release.

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

Monday, December 14

  • No important economic data releases

Tuesday, December 15

  • 8:30 a.m. U.S. – Empire State Manufacturing Index, Import Prices m/m
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate

For a look at all of today’s economic events, check out our economic calendar.

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

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