Yesterday’s U.S. and China Phase One trade deal signing ceremony brought a lot of attention, but little has happened in gold and silver. However, we saw big movements in platinum and palladium. The first broke sharply above $1,000 mark as it gained almost 4% and the latter has reached yet another new record high nearing $2,200 mark.
Right now, the price of gold is flat and silver is retracing some of yesterday’s advance. On the other hand, both platinum and palladium extend their short-term gains this morning.
Today, the markets will await the U.S. Retail Sales number. It is supposed to be the most important piece of economic data this week. But that’s not all. At 8:30 a.m. we will also get the Philly Fed Manufacturing Index and just before that, at 7:30 the European Central Bank will release its Monetary Policy Meeting Accounts. Then, the ECB President Lagarde will speak at 1:00 p.m. Last but not least, at 9:00 p.m. there will be China’s GDP number release.
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