Daily Gold News: Monday, Feb. 14 – Gold Trades Above the $1,850 Price Level

The gold futures contract gained 0.26% on Friday, Feb. 11, as it extended a short-term uptrend after breaking above the late Jan. local high of $1,854.20. Recently, the market fluctuated following the advances after breaking above the $1,800 level. Gold price went higher after Thursday’s worse-than-expected Consumer Price Index release. This morning gold is trading slightly below the Friday’s high, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading above the $1,850 price level. What about the other precious metals? Silver is 0.3% higher, platinum is 0.2% lower and palladium is 0.6% lower. So the main precious metals’ prices are mixed this morning.

Friday’s UoM Consumer Sentiment release has been worse than expected at 61.7. Today we will get a speech from the FOMC Member Bullard at 11:00 a.m. The markets will be waiting for tomorrow’s Producer Price Index release.

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

Monday, February 14

  • 11:00 a.m. U.S. – FOMC Member Bullard Speech
  • 11:15 a.m. Eurozone – ECB President Lagarde Speech
  • 7:30 p.m. Australia – Monetary Policy Meeting Minutes
  • Tentative, U.S. – Mortgage Delinquencies

Tuesday, February 15

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Empire State Manufacturing Index
  • 4:00 p.m. U.S. – TIC Long-Term Purchases

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

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

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