Daily Gold News: Wednesday, August 11 – Gold Higher Ahead of U.S. Inflation Data

The gold futures contract gained 0.30% on Tuesday, as it fluctuated following the recent declines. Gold accelerated its short-term downtrend on Monday as it quickly fell to the late June local low of $1,675.90 before bouncing back above $1,700 price level. This morning, the market is trading above yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.5% higher, as it is trading sideways following Friday’s-Monday’s sell-off. What about the other precious metals? Silver is 0.2% higher, platinum is 1.4% higher and palladium is 0.5% higher. So precious metals’ prices are higher this morning.

The markets will be waiting for today’s Consumer Price Index release at 8:30 a.m.

Where would the price of gold go following Friday’s Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 35-month-long period of time that contains of thirty five NFP releases. The following chart shows the average gold price path before and after the NFP releases for the past 35 months. The market was usually advancing ahead of the release day and closing 0.38% higher on the 10th day after the NFP release.

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

Wednesday, August 11

  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 10:30 a.m. U.S. – FOMC Member Bostic Speech
  • 1:01 p.m. U.S. – 10-y Bond Auction

Thursday, August 12

  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims
  • 1:01 p.m. U.S. – 30-y Bond Auction

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.

* * * * *


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.