The gold futures contract lost 0.59% on Wednesday, as it continued to trade within a short-term consolidation following last week’s Monday’s 5% sell-off. Gold sold off after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The yellow metal has retraced all of its previous advance. It came back down to $1,850 price level, as we can see on the daily chart ( the chart includes today’s intraday data ):
Gold is 0.4% lower this morning, as it is trading along the bottom of the mentioned short-term consolidation. What about the other precious metals? Silver lost 0.82% on Wednesday and today it is 1.3% lower. Platinum gained 1.47% and today it is 0.2% higher. Palladium gained 1.18% yesterday and today it’s 0.8% lower. So precious metals are generally lower this morning .
Yesterday’s Housing Starts and Building Permits releases have been mixed. Today we will get the Unemployment Claims and Philly Fed Manufacturing Index releases, among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, November 19
- 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index
- 8:30 a.m. Canada – ADP Non-Farm Employment Change
- 10:00 a.m. U.S. – CB Leading Index m/m, Existing Home Sales
- 10:00 a.m. Eurozone – ECB President Lagarde Speech
Friday, November 20
- 3:15 a.m. Eurozone – ECB President Lagarde Speech
- 8:30 a.m. U.S. – FOMC Member Kaplan Speech
- 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
For a look at all of today’s economic events, check out our economic calendar.
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
* * * * *
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.