Daily Gold News: Short-Term Consolidation Following Recent Declines

The gold futures contract gained 0.45% on Thursday, as it fluctuated following the decline after breaking below the price level of $1,900. The market reached the lowest since late July. Gold keeps retracing its rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar rally, among other factors. Gold also broke below its mid-August local low, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.5% lower this morning, as it is trading within yesterday’s daily trading range. What about the other precious metals? Silver gained 0.39% on Thursday and today it is 2.0% lower. Platinum lost 0.59% and today it is 1.1% lower. Palladium lost 1.39% yesterday and today it’s 2.0% lower. So precious metals are extending their downtrend this morning.

Yesterday’s Unemployment Claims release has been slightly worse than expected at 870,000 and the New Home Sales number has been better than expected at 1,011 million. The main stock market indexes went sideways following the recent decline.

Today we will get the Durable Goods Orders release at 8:30 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, September 25

  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m
  • 3:10 p.m. U.S. – FOMC Member Williams Speech

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

Daily Gold News: Gold Breaking Lower, as Correction Deepens

The gold futures contract lost 2.05% on Wednesday, as it extended its short-term downtrend following breaking below the price level of $1,900. The market is the lowest since late July. Gold keeps retracing its rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar rally, among other factors. Gold also broke below its mid-August local low, as we can see on the daily chart:

Gold is 0.6% lower this morning, as it is trading along yesterday’s low. What about the other precious metals? Silver lost 5.78% on Wednesday and today it is 2.8% lower. Platinum lost 1.7% and today it is 0.2% lower. Palladium gained 1.29% yesterday and today it’s 0.5% lower. So precious metals are mixed this morning.

Yesterday’s Flash Manufacturing/ Services PMI releases have been overall better than expected. But markets continued going risk-off as stocks extended their short-term downtrend.

Today we will have a Testimony from the Fed Chair Powell at 10:00 a.m. and a speech from Treasury Secretary Mnuchin. We will also get the Unemployment Claims release at 8:30 a.m. and New Home Sales number at 10:00 a.m.

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

Thursday, September 24

  • 8:30 a.m. U.S. – Unemployment Claims
  • 10:00 a.m. U.S. – Fed Chair Powell Testimony, Treasury Secretary Mnuchin Speech, New Home Sales
  • 2:00 p.m. U.S. – FOMC Member Williams Speech

Friday, September 25

  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m
  • 3:10 p.m. U.S. – FOMC Member Williams Speech

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Wednesday, September 23 – Gold Below $1,900

The gold futures contract lost 0.16% on Tuesday, as it fluctuated following its Monday’s sell-off of 2.6%. The precious metals’ market followed an advance in U.S. dollar and stocks’ sell-off early in the week. Recently gold retraced most of the decline from September 1 local high of $2,001.20. On Wednesday it has reached new short-term local high of $1,983.80 before coming back lower. This week it got close to $1,900 price mark, as we can see on the daily chart:

Gold is 0.6% lower this morning, as it is trading along its short-term local lows. What about the other precious metals? Silver gained 0.56% on Tuesday following Monday’s big decline of over 10% and today it is 3.4% lower. Platinum lost 2.13% and today it is 0.1% higher. Palladium lost 2.28% yesterday and today it’s 1.1% higher. So precious metals are mixed this morning.

Yesterday’s Existing Home Sales release has been as expected and the Richmond Manufacturing Index has been better than expected.

Today there will be another Testimony from the Fed Chair Powell at 10:00 a.m. We will also get the important Flash Manufacturing/ Services PMI releases at 9:45 a.m. The earlier Eurozone’s PMI releases have been pretty much mixed. The Manufacturing PMI numbers from Germany and France have been better than expected but the Services PMI have been worse than expected.

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

Wednesday, September 23

  • 3:15 a.m. Eurozone – French Flash Manufacturing PMI, French Flash Services PMI
  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 9:00 a.m. U.S. – FOMC Member Mester Speech, HPI m/m
  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
  • 10:00 a.m. U.S. – Fed Chair Powell Testimony
  • 2:00 p.m. U.S. – FOMC Member Quarles Speech

Thursday, September 24

  • 8:30 a.m. U.S. – Unemployment Claims
  • 10:00 a.m. U.S. – Fed Chair Powell Testimony, Treasury Secretary Mnuchin Speech, New Home Sales
  • 2:00 p.m. U.S. – FOMC Member Williams Speech

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

Daily Gold News: Short-term Consolidation Following Monday’s Sell-off

The gold futures contract lost 2.62% on Monday, as it broke below its recent trading range. The precious metals’ market followed an advance in U.S. dollar and stocks’ sell-off. Recently gold retraced most of the decline from September 1 local high of $2,001.20. On Wednesday it has reached new short-term local high of $1,983.80 before coming back lower. Yesterday it got close to $1,900 price mark, as we can see on the daily chart:

Gold is 0.3% lower this morning, as it is fluctuating along yesterday’s closing price. What about the other precious metals? Silver lost 10.11% on Monday and today it is 1.3% lower. Platinum lost 6.65% and today it is 0.8% higher. Palladium lost 4.16% yesterday and today it’s 0.9% higher. So precious metals are fluctuating following yesterday’s sell-off this morning.

Today there will be a Testimony from the Fed Chair Powell at 10:30 a.m. We will also get the Existing Home Sales and Richmond Manufacturing Index releases at 10:00 a.m.

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

Tuesday, September 22

  • 10:00 a.m. U.S. – Existing Home Sales, Richmond Manufacturing Index
  • 10:00 a.m. Eurozone – Consumer Confidence
  • 10:30 a.m. U.S. – Fed Chair Powell Testimony

Wednesday, September 23

  • 3:15 a.m. Eurozone – French Flash Manufacturing PMI, French Flash Services PMI
  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 9:00 a.m. U.S. – FOMC Member Mester Speech, HPI m/m
  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
  • 10:00 a.m. U.S. – Fed Chair Powell Testimony
  • 2:00 p.m. U.S. – FOMC Member Quarles Speech

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Gold Going Lower as US Dollar Gains

The gold futures contract gained 0.63% on Friday, as it continued to fluctuate within a short-term consolidation. Recently gold retraced most of the decline from September 1 local high of $2,001.20. On Wednesday it has reached new short-term local high of $1,983.80 before coming back lower. Gold is still trading within a consolidation along $1,950-2,000, as we can see on the daily chart:

Gold is 0.8% lower this morning, as it is retracing Friday’s advance following U.S. dollar advance. What about the other precious metals? Silver gained 0.1% on Friday and today it is 1.4% lower. Platinum gained 0.82% and today it is 1.3% lower. Palladium gained 1.95% on Friday and today it’s 1.9% lower. So precious metals are going down this morning.

Friday’s Consumer Sentiment release has been slightly better than expected. However, the markets went risk off and stocks reached new short-term lows.

Today we will get a speech from the Fed Chair Powell at 10:00 a.m. There will also be speeches from the FOMC Members later in the day. The markets will be also waiting for Tuesday’s-Wednesday’s Powell’s Testimony. Take a look at our economic news schedule below to find out more.

Where would the price of gold go following Wedneday’s Fed news release? We’ve compiled the data since January of 2017, a 43-month-long period of time that contains of thirty FOMC releases.

The following chart shows average gold price path before and after the FOMC. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.8% higher 10 days after the FOMC Statement announcement.

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

Monday, September 21

  • 10:00 a.m. U.S. – Fed Chair Powell Speech
  • 12:00 p.m. U.S. – FOMC Member Brainard Speech
  • 6:00 p.m. U.S. – FOMC Member Williams Speech
  • All Day, Japan – Bank Holiday

Tuesday, September 22

  • 10:00 a.m. U.S. – Existing Home Sales, Richmond Manufacturing Index
  • 10:00 a.m. Eurozone – Consumer Confidence
  • 10:30 a.m. U.S. – Fed Chair Powell Testimony

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

Daily Gold News: Precious Metals Fluctuate After Yesterday’s Declines

The gold futures contract lost 1.05% on Thursday, as it retraced its recent advances. The market has reacted to Wednesday’s FOMC Statement release. Recently gold retraced most of the decline from September 1 local high of $2,001.20. On Wednesday it has reached new short-term local high of $1,983.80 before coming back lower. Gold is still trading within a consolidation along $1,950-2,000, as we can see on the daily chart:

Gold is 0.4% higher this morning, as it continues to trade within a consolidation. What about the other precious metals? Silver lost 1.37% on Thursday and today it is unchanged. Platinum lost 4.38% and today it is 0.6% higher. Palladium lost 3.40% yesterday and today it’s 0.4% lower. So precious metals are fluctuating following their yesterday’s sell-off this morning.

Yesterday’s Unemployment Claims release has been slightly worse than expected at 860,000. The Philly Fed Manufacturing Index, Building Permits and Housing Starts releases have also been slightly worse than expected. Today we will get the Consumer Sentiment number at 10:00 a.m.

Where would the price of gold go following Wedneday’s Fed news release? We’ve compiled the data since January of 2017, a 43-month-long period of time that contains of thirty FOMC releases.

The following chart shows average gold price path before and after the FOMC. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.8% higher 10 days after the FOMC Statement announcement.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, September 18

  • 8:30 a.m. U.S. – Current Account
  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, CB Leading Index m/m

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News – Gold Lower Following FOMC Release, Still Within a Consolidation

The gold futures contract gained 0.22% on Wednesday, as it slightly extended its small Tuesday’s advance of 0.13%. The market remained relatively calm despite the FOMC Statement release. Recently gold retraced most of the decline from September 1 local high of $2,001.20. Yesterday it has reached new short-term local high of $1,983.80 before coming back closer to the opening price. Gold is still trading within a consolidation along $1,950-2,000, as we can see on the daily chart:

Gold is 0.8% lower this morning, as it is trading along yesterday’s daily low. What about the other precious metals? Silver gained 0.04% on Wednesday and today it is 1.3% lower. Platinum lost 0.89% and today it is 2.4% lower. Palladium gained 0.13% yesterday and today it’s 0.4% lower. So precious metals are generally lower this morning.

Yesterday’s Retail Sales release has been worse than expected. And today we will get the Unemployment Claims along with the Philly Fed Manufacturing Index, Building Permits and Housing Starts releases at 8:30 a.m.

Where would the price of gold go following yesterday’s Fed news release? We’ve compiled the data since January of 2017, a 43-month-long period of time that contains of thirty FOMC releases. The first chart shows price paths 5 days before and 10 days after the FOMC release. We can see that the biggest 10-day advance after the NFP day was +10.5% after March 15, 2020 release and the biggest decline was -7.2% after March 3, 2020 release. However, we’ve had an increased volatility following coronavirus fear then.

The following chart shows average gold price path before and after the FOMC releases for the past 43 months and 30 releases. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.8% higher 10 days after the FOMC Statement announcement.

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

Thursday, September 17

  • 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims, Building Permits, Housing Starts

Friday, September 18

  • 8:30 a.m. U.S. – Current Account
  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, CB Leading Index m/m

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold New: Precious Metals Mostly Higher Ahead of the FOMC

The gold futures contract gained 0.13% on Tuesday, as it fluctuated following Monday’s advance. The market retraced most of the decline from September 1 local high of $2,001.20. Yesterday it has reached new short-term local high of $1,982.40 before coming back to the opening price. Gold is still trading within a consolidation along $1,950-2,000, as we can see on the daily chart:

Gold is 0.6% higher this morning, as it is trading along yesterday’s daily high. What about the other precious metals? Silver gained 0.40% on Tuesday and today it is 0.7% higher. Platinum gained 2.45% and today it is 0.2% higher. Palladium gained 3.88% yesterday and today it’s 0.7% lower. So precious metals are slightly higher ahead of today’s FOMC announcement.

Yesterday’s Empire State Manufacturing Index release has been better than expected and the Industrial Production number has been worse than expected at only +0.4%.

Today we will get the important FOMC Statement release. But we’ll also get the Retail Sales number at 8:30 a.m. and Business Inventories release at 10:00 a.m.

Where would the price of gold go following today’s Fed news release? We’ve compiled the data since January of 2017, a 43-month-long period of time that contains of thirty FOMC releases. The first chart shows price paths 5 days before and 10 days after the FOMC release. We can see that the biggest 10-day advance after the NFP day was +10.5% after March 15, 2020 release and the biggest decline was -7.2% after March 3, 2020 release. However, we’ve had an increased volatility following coronavirus fear then.

The following chart shows average gold price path before and after the FOMC releases for the past 43 months and 30 releases. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.8% higher 10 days after the FOMC Statement announcement.

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

Wednesday, September 16

  • 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m
  • 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
  • 2:00 a.m. U.S. – FOMC Statement, FOMC Economic Projections, Federal Funds Rate
  • 2:30 p.m. U.S. – FOMC Press Conference
  • Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate

Thursday, September 17

  • 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims, Building Permits, Housing Starts

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Precious Metals Advancing Ahead of Tomorrow’s Fed Statement

The gold futures contract gained 0.81% on Monday, as it retraced its Friday’s decline. So gold is still trading within a consolidation along $1,950-2,000. The market retraced most of the decline from September 1 local high of $2,001.20 on Thursday, before going back below $1,950 recently. Gold price is trading within an over month-long consolidation, as we can see on the daily chart:

Gold is 0.7% higher this morning, as it is extending Monday’s advance. What about the other precious metals? Silver gained 1.85% on Monday and today it is 1.4% higher. Platinum gained 2.01% and today it is 1.1% higher. Palladium lost 0.27% on Monday and today it’s 1.5% higher. So precious metals are extending their yesterday’s advance this morning.

Yesterday we didn’t get any important economic data releases. Today there will be the Empire State Manufacturing Index release at 8:30 a.m. and then at 9:15 a.m. we will get the Industrial Production and Capacity Utilization Rate numbers. But markets will be waiting for Wednesday’s FOMC Statement release.

Let’s focus on tomorrow’s Fed announcement. Where would the price of gold go following the news release? We’ve compiled the data since January of 2017, a 43-month-long period of time that contains of thirty FOMC releases. The first chart shows price paths 5 days before and 10 days after the FOMC release. We can see that the biggest 10-day advance after the NFP day was +10.5% after March 15, 2020 release and the biggest decline was -7.2% after March 3, 2020 release. However, we’ve had an increased volatility following coronavirus fear then.

The following chart shows average gold price path before and after the FOMC releases for the past 43 months and 30 releases. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.8% higher 10 days after the FOMC Statement announcement.

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

Tuesday, September 15

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – Empire State Manufacturing Index, Import Prices m/m
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate

Wednesday, September 16

  • 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m
  • 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
  • 2:00 a.m. U.S. – FOMC Statement, FOMC Economic Projections, Federal Funds Rate
  • 2:30 p.m. U.S. – FOMC Press Conference
  • Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Gold’s Low Volatility, Markets Waiting for Wednesday’s Fed Talk

The gold futures contract lost 0.83% on Friday, as it continued to trade within a consolidation along $1,950-2,000. The market retraced most of the recent decline from September 1 local high of $2,001.20 on Thursday, before going back below $1,950. Gold price is trading within an over month-long consolidation, as we can see on the daily chart:

Gold is 0.2% higher this morning, as it is trading within its Friday’s range. What about the other precious metals? Silver lost 1.59% on Friday and today it is 0.4% higher. Platinum lost 0.15% and today it is 1.2% higher. Palladium was unchanged on Friday and today it’s 0.1% lower. So precious metals are mixed this morning.

Friday’s Consumer Price Index release has been slightly higher than expected. Today we won’t get any important economic data releases and the financial markets will be waiting for Wednesday’s FOMC Statement release.

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

Monday, September 14

  • 10:00 p.m. China – Fixed Asset Investment ytd/y, Industrial Production y/y, Retail Sales y/y, Unemployment Rate

Tuesday, September 15

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – Empire State Manufacturing Index, Import Prices m/m
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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

* * * * *

Disclaimer

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.

 

Daily Gold News: Precious Metals Fluctuate Following Recent Gains

The gold futures contract gained 0.48% on Thursday, as it extended Wednesday’s advance of 0.6%. The market has retraced most of the recent decline from September 1 local high of $2,001.20. On Friday intraday volatility has been relatively low despite monthly jobs data release. And the stock market’s rout didn’t trigger any significant move in gold. Gold price is trading within a month-long consolidation, as we can see on the daily chart:

Gold is 0.1% lower this morning, as it is trading along yesterday’s closing price. What about the other precious metals? Silver gained 0.77% on Thursday and today it is 0.3% lower. Platinum gained 1.74% and today it is 0.4% higher. Palladium gained 0.55% on Thursday and today it’s 0.1% lower. So precious metals are slightly retracing their yesterday’s advances this morning.

Yesterday’s U.S. Producer Price Index release has been slightly higher than expected, and the Unemployment Claims have been at 884,000 vs. the expected number of 838,000. Today we will get the Consumer Price Index release at 8:30 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, September 4

  • 4:00 a.m. Eurozone – German Buba President Weidmann Speech
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 2:00 p.m. U.S. – Federal Budget Balance
  • All Day, Eurozone – Eurogroup Meetings

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Precious Metals Mixed Ahead of ECB Release

The gold futures contract gained 0.60% on Wedsnesday, as it continued to fluctuate within a short-term consolidation following last week’s decline. The market bounced off $2,000 resistance level. On Friday the intraday volatility has been relatively low despite monthly jobs data release. And the stock market’s rout didn’t trigger any significant move in gold recently. Gold price is trading within a month-long consolidation, as we can see on the daily chart:

Gold is 0.1% higher this morning, as it is trading along yesterday’s closing price. What about the other precious metals? Silver gained 0.34% on Wednesday and today it is 0.5% higher. Platinum gained 1.60% and today it is 0.2% lower. Palladium gained 0.54% on Wednesday and today it’s 0.6% lower. So precious metals are mixed this morning.

Yesterday’s JOLTS Job Openings release has been better than expected at 6.62 million. Today we will get the ECB Monetary Policy Statement at 7:45 a.m. and the ECB Press Conference at 8:30 a.m. We will also get the U.S. Producer Price Index along with the Unemployment Claims releases at 8:30 a.m.

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

Thursday, September 3

  • 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims
  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m
  • 12:30 a.m. Canada – BOC Governor Macklem Speech
  • 1:00 p.m. Eurozone – ECB President Lagarde Speech

Friday, September 4

  • 4:00 a.m. Eurozone – German Buba President Weidmann Speech
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 2:00 p.m. U.S. – Federal Budget Balance
  • All Day, Eurozone – Eurogroup Meetings

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Wednesday, September 9 – Gold Still Sideways

The gold futures contract gained 0.46% on Tuesday, as it extended its short-term consolidation following last week’s Wednesday’s decline of over 1.7%. The market bounced off $2,000 resistance level. On Friday the intraday volatility has been relatively low despite monthly jobs data release. And the stock market’s rout didn’t trigger any significant move in gold recently. Gold price is trading within a month-long consolidation, as we can see on the daily chart:

Gold is 0.5% lower this morning, as it is trading within yesterday’s range. What about the other precious metals? Silver gained 1.04% on Tuesday and today it is 0.7% lower. Platinum gained 1.35% and today it is unchanged. Palladium lost 1.60% on Tuesday and today it’s 1.0% lower. So precious metals are lower this morning.

Today we will get the JOLTS Job Openings release at 10:00 a.m. At the same time, Bank of Canada’s monetary policy update will be released.

The market will wait for Thursday’s ECB Monetary Policy Statement along with the ECB Press Conference.

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

Wednesday, September 2

  • 10:00 a.m. U.S. – JOLTS Job Openings
  • 10:00 a.m. Canada – BOC Rate Statement, Overnight Rate

Thursday, September 3

  • 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims
  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m
  • 12:30 a.m. Canada – BOC Governor Macklem Speech
  • 1:00 p.m. Eurozone – ECB President Lagarde Speech

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Tuesday, September 8 – Precious Metals Continue Lower

The gold futures contract lost 0.18% on Friday, as it continued to fluctuate following Wednesday’s decline of over 1.7%. The intraday volatility has been relatively low despite monthly jobs data release. Today gold price continues slightly lower, as it trades 0.5% below yesterday’s closing price. The yellow metal remains within a short-term consolidation, as Friday’s gold futures chart shows:

What about the other precious metals? Silver is 0.8% lower this morning. Platinum is 1.2% lower and Palladium is 0.1% lower. So precious metals are going down this morning.

Today we won’t get any important economic data releases.

The market will wait for Thursday’s ECB Monetary Policy Statement along with the ECB Press Conference.

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

Tuesday, September 1

  • 6:00 a.m. U.S. – NFIB Small Business Index
  • 10:00 a.m. U.S. – IBD/TIPP Economic Optimism

Wednesday, September 2

  • 10:00 a.m. U.S. – JOLTS Job Openings
  • 10:00 a.m. Canada – BOC Rate Statement, Overnight Rate

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Monday, September 7 – Gold Price Continues Sideways

The gold futures contract lost 0.18% on Friday, as it continued to fluctuate following Wednesday’s decline of over 1.7%. The intraday volatility has been relatively low despite monthly jobs data release. And the stock market’s rout didn’t trigger any significant move in gold last week. Gold price is extending its consolidation, as we can see on the daily chart:

Gold is 0.3% lower this morning, as it is flucutating within its Friday’s daily trading range. What about the other precious metals? Silver lost 0.61% on Friday and today it is 0.5% lower. Platinum gained 0.97% and today it is 0.7% lower. Palladium gained 0.93% on Friday and today it’s 0.1% lower. So precious metals are slightly lower this morning.

Today we won’t get any important economic data releases. Because of the Labor Day holiday, there will be no regular trading in the U.S. today.

Friday’s Nonfarm Payrolls number has been as expected at +1,371 million. But the Unemployment Rate has declined to 8.4% vs. the expected 9.8%.

Where would the price of gold go after the monthly jobs data release? We’ve compiled the data since September of 2018, a 24-month-long period of time that contains of twenty four NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. We can see that the biggest 10-day advance after the NFP day was +6.6% in February of 2020 and the biggest decline was -12.7% in March of 2020. However, we’ve had an increased volatility following coronavirus fear then.

The following chart shows the average gold price path before and after the NFP releases for the past 24 months. The market was usually fluctuating for a week before advancing and closing 0.5% higher on the 10th day after the monthly Nonfarm Payrolls release.

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

Monday, September 7

  • All Day, U.S. – Bank Holiday

Tuesday, September 1

  • 6:00 a.m. U.S. – NFIB Small Business Index
  • 10:00 a.m. U.S. – IBD/TIPP Economic Optimism

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Precious Metals Mixed Ahead of Important Jobs Data Release

The gold futures contract lost 0.35% on Thursday, as it slightly extended its Wednesday’s decline of over 1.7%. Precious metals went lower following U.S dollar’s advance. The stock market’s rout didn’t trigger any significant move in gold yesterday. Last month yellow metal has reversed from its new record high of $2,089.20 after much better than expected Nonfarm Payrolls release. The following upward correction reached local high of $2,024.60 on August 18. Since then gold has been fluctuating, as we can see on the daily chart:

Gold is 0.5% higher this morning, as it is retracing some of yesterday’s decline. What about the other precious metals? Silver lost 1.90% on Thursday and today it is 1.0% higher. Platinum lost 1.60% and today it is 2.2% higher. Palladium gained 2.39% on Thursday and today it’s 1.1% lower. So precious metals are mixed this morning.

Yesterday‘s ISM Non-Manufacturing PMI release has been as expected and the Unemployment Claims number has been slightly better (lower) than expected at 881,000.

The financial markets are waiting for today’s monthly jobs data release. The Nonfarm Payrolls number is expected to drop to +1,375 million from last month’s +1,763 million.

Let’s focus on today’s Nonfarm Payrolls number release. Where would the price of gold go following that news release? We’ve compiled the data since September of 2018, a 24-month-long period of time that contains of twenty four NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. We can see that the biggest 10-day advance after the NFP day was +6.6% in February of 2020 and the biggest decline was -12.7% in March of 2020. However, we’ve had an increased volatility following coronavirus fear then.

The following chart shows the average gold price path before and after the NFP releases for the past 24 months. The market was usually fluctuating for a week before advancing and closing 0.5% higher on the 10th day after the monthly Nonfarm Payrolls release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, September 4

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Daily Gold News: September 3 – Precious Metals Lower Again, U.S. Dollar Gains

The gold futures contract lost 1.73% on Wednesday, as it retraced its recent advance following bouncing off $2,000 price level. Gold reversed from its new record high of $2,089.20 a month ago after much better than expected Nonfarm Payrolls release, among other factors. The following upward correction reached local high of $2,024.60 on August 18. Since then gold has been fluctuating, as we can see on the daily chart:

Gold is 0.7% lower this morning, as it is extending yesterday’s decline. What about the other precious metals? Silver lost 4.36% on Wednesday and today it is 1.7% lower. Platinum lost 5.10% and today it is 0.1% higher. Palladium lost 1.89% on Wednesday and today it’s 3.6% higher. So precious metals are generally going down this morning, as U.S. dollar strengthens.

Yesterday‘s ADP Non-Farm Employment Change release has been worse than expected at +428,000. Today we will get the Unemployment Claims number at 8:30 a.m. and the ISM Non-Manufacturing PMI release at 10:00 a.m.

The financial markets will be waiting for tomorrow’s monthly jobs data release.

Let’s focus on the Friday’s Nonfarm Payrolls number release. Where would the price of gold go following that news release? We’ve compiled the data since September of 2018, a 24-month-long period of time that contains of twenty four NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. We can see that the biggest 10-day advance after the NFP day was +6.6% in February of 2020 and the biggest decline was -12.7% in March of 2020. However, we’ve had an increased volatility following coronavirus fear then.

The following chart shows the average gold price path before and after the NFP releases for the past 24 months. The market was usually fluctuating for a week before advancing and closing 0.5% higher on the 10th day after the monthly Nonfarm Payrolls release.

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

Thursday, September 3

  • 8:30 a.m. U.S. – Unemployment Claims, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q, Trade Balance
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

Friday, September 4

  • 8:30 a.m. U.S. – Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.

 

Major Commodities Mixed Despite Stronger USD

In today’s trading sniper, we will focus on commodities, where we do have a lot action going on. We will also make small exemption and instead of three instruments, we will talk about four. End of the week is getting really interesting!

We will start this analysis with the Brent Oil, where we do have a decline after the price broke the lower line of the ascending triangle/wedge pattern. This movement is quite surprising as breakout to the upside was kind of more probable. Nevertheless, as long as we stay below the lower line of the triangle, the sentiment is negative.

Now Gold, which failed to go higher after the bullish breakout from the symmetric triangle. Instead of a bigger rise, the price went lower and is now testing the long-term up trendline. In theory, that is a great place for a bounce but in order to get a proper buy signal, we need to see bullish price action on this support first.

Now Platinum, which made a head and shoulders pattern. The price already broke the neckline and the major up trendline. Is that enough for a sell signal? Well pretty much yes, especially when we will look at the price movements at the beginning of the year, where Platinum dropped sharply after…yes, head and shoulders pattern.

We will finish with the Palladium, where we do have a proper upswing after the price escaped to the upside from the symmetric triangle pattern. Thursday brings us a very handsome upswing, so the buy signal is totally ON.

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

Daily Gold News: September 2 – Precious Metals Lower Following Strengthening U.S. Dollar

The gold futures contract gained 0.02% on Tuesday, as it remained close to short-term local highs. The market bounced off following the decline after Thursday’s Fed Chair Powell speech. Gold reversed from its new record high of $2,089.20 on August 7 after much better than expected Nonfarm Payrolls release, among other factors. The following upward correction reached a local high of $2,024.60 on August 18. Since then gold has been fluctuating, as we can see on the daily chart:

Gold is 0.5% lower this morning, as it is retracing some of the recent advance. What about the other precious metals? Silver gained 0.18% on Tuesday and today it is 2.0% lower. Platinum gained 1.58% and today it is 1.5% lower. Palladium gained 1,40% on Tuesday and today it’s 1.2% lower. So precious metals’ prices are going down this morning.

Yesterday‘s U.S. ISM Manufacturing PMI release has been better than expected at 56.0. And the stock market went fully risk-on as indexes reached new record highs. Today we will get the important ADP Non-Farm Employment Change release at 8:15 a.m. Then we will have speeches from FOMC Members and the Beige Book release at 2:00 p.m.

The financial markets will be waiting for Friday’s monthly jobs data release.

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

Wednesday, September 2

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – FOMC Member Williams Speech, Factory Orders m/m
  • 12:00 a.m. U.S. – FOMC Member Mester Speech
  • 2:00 p.m. U.S. – Beige Book
  • 9:45 p.m. China – Caixin Services PMI

Thursday, September 3

  • 8:30 a.m. U.S. – Unemployment Claims, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q, Trade Balance
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Non-Manufacturing PMI

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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.

* * * * *

Disclaimer

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.

 

Daily Gold News: Tuesday, September 1 – Precious Metals Higher Again

The gold futures contract gained 0.19% on Monday, as it remained close to short-term highs. The market bounced off following the recent decline after Thursday’s Fed Chair Powell speech. Gold reversed from its new record high of $2,089.20 on August 7 after much better than expected Nonfarm Payrolls release, among other factors. The following upward correction reached a local high of $2,024.60 on August 18. Since then gold has been fluctuating, as we can see on the daily chart:

Gold is 1.2% higher this morning, as it is extending the short-term advance. What about the other precious metals? Silver gained 2.89% on Monday and today it is 2.6% higher. Platinum lost 0.22% and today it is 2.7 % higher. Palladium gained 2.14% on Monday and today it’s 2.0% higher. So precious metals are gaining again this morning.

Yesterday we didn’t get any important economic data announcements. Today there will be U.S. ISM Manufacturing PMI release at 10:00 a.m. The financial markets will be waiting for Friday’s monthly jobs data release.

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

Tuesday, September 1

  • 12:30 a.m. Australia – Cash Rate, RBA Rate Statement
  • 3:55 a.m. Eurozone – German Final Manufacturing PMI, German Unemployment Change
  • 9:30 a.m. Canada – Manufacturing PMI
  • 9:45 a.m. U.S. – Final Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
  • 9:30 p.m. Australia – GDP q/q

Wednesday, September 2

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 10:00 a.m. U.S. – FOMC Member Williams Speech, Factory Orders m/m
  • 12:00 a.m. U.S. – FOMC Member Mester Speech
  • 2:00 p.m. U.S. – Beige Book
  • 9:45 p.m. China – Caixin Services PMI

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

Disclaimer

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.