Daily Gold News: Wednesday, August 18 – Gold Fluctuates Below $1,800 Price Level

The gold futures contract lost 0.11% on Tuesday, as it fluctuated following the recent advances. The market extended its short-term uptrend from last Monday’s local low of 1,675.90 and it got close to $1,800 privce level. Gold has retraced more of its previous Friday’s-Monday’s sell-off. This morning gold is trading sideways, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% lower, as it is still trading below $1,800 price level. What about the other precious metals? Silver is 0.1% higher, platinum is 0.6% higher and palladium is 0.5% higher. So precious metals’ prices are mixed this morning.

Yesterday’s Retail Sales release has been worse than expected at -1.1%. Today we will get the FOMC Meeting Minutes release at 2:00 p.m. We will also have Building Permits, Housing Starts releases.

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

Wednesday, August 18

  • 8:30 a.m. U.S. – Building Permits, Housing Starts
  • 8:30 a.m. Canada – CPI m/m
  • 2:00 p.m. U.S. – FOMC Meeting Minutes
  • 9:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, August 19

  • 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims
  • 10:00 a.m. U.S. – CB Leading Index m/m

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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