Daily Gold News: Monday, Sep. 20 – Gold Going Sideways Despite Stock Market’s Rout

The gold futures contract lost 0.30% on Friday, as it fluctuated following Thursday’s decline of 2.12%. On Thursday, it broke below the recent local lows as series of the U.S. economic data releases along with the rallying U.S. dollar led to a sell-off in precious metals. The yellow metal came back to $1,750 price level. This morning the market is extending a short-term consolidation along that support level, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.2% higher, as it is trading slightly above $1,750 price level. What about the other precious metals? Silver is 0.1% lower, platinum is 1.8% lower and palladium is 3.0% higher. So precious metals’ prices are mixed this morning.

Friday’s Consumer Sentiment release has been slightly worse than expected at 71.0. Today we will get the NAHB Housing Market Index release at 10:00 a.m. But the markets will be waiting for Wednesday’s FOMC Monetary Policy Statement release.

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

Monday, September 20

  • 10:00 a.m. U.S. – NAHB Housing Market Index
  • All Day, Canada – Federal Election
  • All Day, China – Bank Holiday

Tuesday, September 21

  • 8:30 a.m. U.S. – Housing Starts, Building Permits, Current Account
  • Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate

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.

 

Commodity Supercycle Sets New Record Highs – Where Next For Prices?

Commodities are currently on an unstoppable run with everything from the metals, energies to agriculture markets setting new record highs as the supercycle firmly gathers pace.

Last week, a wide number of commodities blasted through all-time highs.

Aluminium prices soared to 13-year highs. Nickel prices hit 7-year highs and Uranium prices surged to 9-year highs – surpassing a record 6-year high, set only a week ago.

The bullish momentum also split over into other commodities with Natural Gas rallying to a 7-year high. Sugar prices hitting 4-year highs and Lithium prices climbing to an all-time record high.

In total 27 Commodities ranging from the metals, energies to soft commodities have tallied up double to triple digit gains within the in the past year.

Uranium, Natural Gas and Lithium prices are up 219%, 240% and 215%, respectively.

But the best performing commodity, so far this year, is Crude Oil.

Crude Oil prices have quadrupled this year and are setting new record highs almost every month. Crude Oil prices are currently up over 287% from their 2020 lows.

There are plenty of reasons why commodities are on the move, but the key driver is rapidly surging global inflation, tightening supply, logistical bottlenecks and booming demand across many highly essential commodities as a result of the COVID-19 pandemic.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

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

Daily Gold News: Friday, Sep. 17 – Gold Sold Off to $1,750

The gold futures contract lost 2.12% on Thursday following breaking below its recent local lows as series of the U.S. economic data releases, rally in dollar led to a sell-off in precious metals. The yellow metal came back to $1,750 price level yesterday. This morning it is bouncing slightly off yesterday’s local low of $1,745.50, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.4% higher, as it is trading above $1,750 price level. What about the other precious metals? Silver is 0.5% higher, platinum is 1.9% higher and palladium is 0.7% higher. So precious metals’ prices are higher this morning.

Yesterday’s important Retail Sales number release has been much better than expected +0.7% m/m vs. -0.7% m/m. The Unemployment Claims release has been slightly worse than expected at 332,000. Today we will get the Consumer Sentiment release at 10:00 a.m.

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

Friday, September 17

  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations

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: Thursday, Sep. 16 – Gold Price Breaking Lower

The gold futures contract lost 0.68% on Wednesday as it extended a short-term consolidation following last week’s Tuesday’s decline of almost 2%. The yellow metal has retraced all of its recent advance and it fell back below the $1,800 price level. It reacted to the strengthening U.S. dollar, among other factors. This morning gold is trading below its Tuesday’s low, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.9% lower, as it is the lowest since mid-August. What about the other precious metals? Silver is 1.5% lower, platinum is 1.1% lower and palladium is 2.5% higher. So precious metals’ prices are lower this morning.

Yesterday’s Empire State Manufacturing Index release has been better than expected at 34.3 and the Industrial Production release has been slightly worse than expected at +0.4%. Today we will get the important Retail Sales number release at 8:30 a.m. It is expected at -0.7% m/m. We will also have the Philly Fed Manufacturing Index, Unemployment Claims and Business Inventories releases today.

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

Thursday, September 16

  • 8:00 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Unemployment Claims, Philly Fed Manufacturing Index
  • 10:00 a.m. U.S. – Business Inventories m/m

Friday, September 17

  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations

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, Sep. 15 – No Big Changes, Gold at $1,800

The gold futures contract gained 0.71% on Tuesday as it continued to fluctuate within a short-term consolidation following last week’s Tuesday’s decline of almost 2%. The yellow metal has retraced all of its recent advance and it fell back below the $1,800 price level. It reacted to the strengthening U.S. dollar, among other factors. This morning gold is trading above the price level of $1,800, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% lower, as it is trading along the yesterday’s closing price. What about the other precious metals? Silver is 0.3% lower, platinum is 0.1% higher and palladium is 2.6% higher. So precious metals’ prices are mixed this morning.

Yesterday’s Consumer Price Index release has been slightly lower than expected at +0.3% m/m and the Core CPI has been at only +0.1% m/m vs. the expected +0.3% m/m. Today we will get the Empire State Manufacturing Index and Industrial Production releases. The markets will be waiting for tomorrow’s Retail Sales number release.

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

Wednesday, September 15

  • 8:30 a.m. U.S. – Empire State Manufacturing Index, Import Prices m/m
  • 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
  • 9:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, September 16

  • 8:00 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Unemployment Claims, Philly Fed Manufacturing Index
  • 10:00 a.m. U.S. – Business Inventories 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.

* * * * *

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, Sep. 14 – Gold Continues to Fluctuate Along $1,800

The gold futures contract gained 0.13% on Monday as it continued to fluctuate following last week’s Tuesday’s decline of almost 2%. The yellow metal has retraced all of its recent advance and it fell back below the $1,800 price level. It reacted to the strengthening U.S. dollar, among other factors. This morning gold is trading below the price level of $1,800 again, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.4% lower, as it is still trading within a short-term consolidation following the mentioned decline from the recent local highs. What about the other precious metals? Silver is 0.6% lower, platinum is 1.8% lower and palladium is 2.3% lower. So precious metals’ prices are lower this morning.

Yesterday we didn’t get any new important economic data releases. Investors will be waiting for today’s Consumer Price Index release. The forecast number is +0.4% m/m for the CPI and +0.3% m/m for the Core CPI.

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

Tuesday, September 14

  • 6:00 a.m. U.S. – NFIB Small Business Index
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 10:00 p.m. China – Retail Sales y/y

Wednesday, September 15

  • 8:30 a.m. U.S. – Empire State Manufacturing Index, Import Prices m/m
  • 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
  • 9:30 p.m. Australia – Employment Change, Unemployment Rate

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, Sep. 13 – Gold Price Still Below $1,800

The gold futures contract lost 0.44% on Friday as it extended its fluctuations following last week’s Tuesday’s decline of almost 2%. The yellow metal has retraced all of its recent advance and it fell back below $1,800 price level. It reacted to the strengthening U.S. dollar, among other factors. This morning gold is trading below the price level of $1,800, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% higher, as it is trading within a short-term consolidation following the mentioned decline from the recent local highs. What about the other precious metals? Silver is 0.4% lower, platinum is 0.6% lower and palladium is 0.4% higher. So precious metals’ prices are mixed this morning.

Friday’s important Producer Price Index release has been slightly higher than expected at +0.7% m/m. The Wholesale Inventories release has been as expected at +0.6%. Today we won’t get any new important economic data releases. Investors will be waiting for tomorrow’s Consumer Price Index release.

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

Monday, September 13

  • 2:00 p.m. U.S. – Federal Budget Balance
  • 10:45 p.m. Australia – RBA Governor Lowe Speech

Tuesday, September 14

  • 6:00 a.m. U.S. – NFIB Small Business Index
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 10:00 p.m. China – Retail Sales y/y

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.

 

Will We See A Repeat of The Fed’s 2013 Taper Tantrum?

Silver prices are likely to remain range bound through this month as central banks around mull dialling back their massive pandemic-era stimulus.

Earlier this week, Fed policymakers signalled that the central bank remains on track to trim its $120 billion in asset purchases this year, despite the slowdown in jobs growth seen in August and the impact of the recent COVID-19 resurgence.

Elsewhere, the European Central Bank’s announced plans to slow down bond buying under its pandemic emergency purchase programme (PEPP) in response to higher inflation.

With the ECB meeting now in the rear-view mirror, traders are now shifting their attention to the Federal Reserve’s September monetary policy meeting. This key event is also likely to be dominated by the narrative of surging inflation, which is now beginning to snowballs into a problem that central banks across the world can no longer control.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

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

Daily Gold News: Thursday, Sep. 9 – Gold Remains Close to $1,800

The gold futures contract lost 0.28% on Wednesday following an almost 2% decline on Tuesday. The yellow metal has retraced all of its recent advance and it fell back below $1,800 price level. This morning gold is trading along $1,800 again, 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 Tuesday’s decline. What about the other precious metals? Silver is 1.1% higher, platinum is 0.3% higher and palladium is unchanged. So precious metals’ prices are higher this morning.

Yesterday’s JOLTS Job Openings release has been better than expected at 10.93 million vs. the expected number of 10.03 million. Today we will get the important news from the European Central Bank at 7:45 a.m. There will also be Unemployment Claims and Fed Members speeches today.

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

Thursday, September 9

  • 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
  • 8:30 a.m. U.S. – Unemployment Claims
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 11:05 a.m. U.S. – FOMC Member Daly Speech
  • 12:00 p.m. Canada – BOC Governor Macklem Speech
  • 1:01 p.m. U.S. – 30-y Bond Auction
  • 2:00 p.m. U.S. – FOMC Member Williams Speech

Thursday, September 9

  • 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
  • 8:30 a.m. U.S. – Unemployment Claims
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 11:05 a.m. U.S. – FOMC Member Daly Speech
  • 12:00 p.m. Canada – BOC Governor Macklem Speech
  • 1:01 p.m. U.S. – 30-y Bond Auction
  • 2:00 p.m. U.S. – FOMC Member Williams Speech

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, Sep. 8 – Gold Retraced Last Week’s Rally

The gold futures contract lost 1.92% on Tuesday, as it got back to $1,800 price level again. Last week gold reached new local high above $1,835, and yesterday the market followed strengthening U.S. dollar, among other factors. This morning gold is trading along $1,800, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.3% lower, as it is trading sideways following yesterday’s decline. What about the other precious metals? Silver is 0.1% higher, platinum is 0.7% higher and palladium is 0.1% lower . So precious metals’ prices are slightly higher this morning.

Yesterday we didn’t get any new important economic data announcements. Today we will have the Beige Book release at 2:00 p.m., among others.

Where would the price of gold go following Friday’s Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 36-month-long period of time that contains of thirty six NFP releases. The following chart shows the average gold price path before and after the NFP releases for the past 36 months. The market was usually advancing ahead of the release day and closing 0.30% 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, September 8

  • 10:00 a.m. U.S. – JOLTS Job Openings
  • 10:00 a.m. Canada – BOC Rate Statement, Ivey PMI, Overnight Rate
  • 1:01 p.m. U.S. – 10-y Bond Auction
  • 1:10 p.m. U.S. – FOMC Member Williams Speech
  • 2:00 p.m. U.S. – Beige Book

Thursday, September 9

  • 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
  • 8:30 a.m. U.S. – Unemployment Claims
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 11:05 a.m. U.S. – FOMC Member Daly Speech
  • 12:00 p.m. Canada – BOC Governor Macklem Speech
  • 1:01 p.m. U.S. – 30-y Bond Auction
  • 2:00 p.m. U.S. – FOMC Member Williams Speech

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.

 

Weak August Payrolls: Why We Should Care

They say that September is a good time for gold. Indeed, historically, gold used to shine during the ninth month, and the yellow metal also started this year’s September on a good note. As the chart below shows, it jumped above $1,800 on the last day of August, and it has continued its rebound since then.

So, what happened? Well, on Friday, the newest report on the US labor market was revealed. The publication showed that the American economy added only 235,000 jobs in August, as one can see in the chart below. The number came much below expectations (of more than 700,000) and much below the impressive gains in July (above one million, after an upward revision). It was also the worst report since January 2021.

To be clear, the Bureau of Labor Statistics Employment Situation Report included some positive news as well. For instance, the unemployment rate declined from 5.4% to 5.2%, as the chart above shows. Additionally, it turned out that employment in June and July combined was 134,000 higher than previously reported. However, these strong revisions are not enough to outweigh the disappointing nonfarm payrolls.

Implications for Gold

What does the fresh report on the US job market imply for the gold market? Well, the slowdown in employment growth lowers the odds that the FOMC will announce the timeline of its tightening cycle this month. Before the employment report was published, many analysts bet that the Fed would present a plan of tapering of its asset purchases as early as at the September meeting. Now it’s not so clear, as it seems that the spread of the Delta variant of the coronavirus weighs on the economic activity. And, as a reminder, the Fed focuses now more on its employment mandate rather than the price stability. Weak payrolls mean that the shortfall from full employment will be eliminated later than previously anticipated.

It goes without saying that a more dovish Fed is positive for gold prices, as the postponement of normalization of the US monetary policy provides relief for the yellow metal. The prospects of the tightening cycle were creating downward pressure on gold earlier this year.

Another hidden positive factor for the gold market is the stagflationary character of the recent employment report. You see, job growth slowed down while wage inflation accelerated. According to the BLS, wages jumped 0.6% in August, up from a 0.4% increase in July. Indeed, we have inflation above 5%, while the economy is slowing down despite all the monetary and fiscal stimulus it got. It doesn’t sound good, does it? Given the size of monetary and fiscal injections, the economy should be booming, but it’s far from doing so. Well, prices are booming, but the economic activity is far from being spectacular right now.

The bottom line is that the August nonfarm payrolls might be, in a sense, a game-changer for the gold market. To be clear, the Fed won’t drop its plans to tighten monetary policy entirely (especially that August nonfarm number often disappoints initially), but it may postpone the beginning of tapering and reduce its asset purchases even more gradually than it was previously thought.

However, they can still announce tapering this year. Another caveat is that gold failed to rally above $1,835, despite the softened expectations of the future path of the federal funds rate. But it seems that gold bulls can enjoy the ride – at least for a while – until some hawkish comments from the Fed rattle markets again. One thing is sure: a long quiet summer has ended and a more windy fall has started. The upcoming FOMC minutes should provide some clues as to whether or not gold will face more headwinds or tailwinds later this year.

If you enjoyed today’s free gold report, we invite you to check out our premium services. We provide much more detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today. If you’re not ready to subscribe yet though and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Sign up today!

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

Arkadiusz Sieron, PhD
Sunshine Profits: Effective Investment through Diligence & Care

 

Daily Gold News: Tuesday, Sep. 7 – Gold Gets Back Closer to $,1800

The gold futures contract lost 0.37% on Monday after gaining 1.23% on Friday. It broke above the recent local highs on Friday following the monthly jobs data release. This morning gold is trading closer to $1,800 price level again, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.7% lower, as it is retracing its Friday’s advance. What about the other precious metals? Silver is 1.7% lower, platinum is 1.3% lower and palladium is 0.6% lower . So precious metals’ prices are lower this morning.

Friday’s Nonfarm Payrolls release has been worse than expected at only +235,000 vs. the expected number of +720,000. And the Average Hourly Earnings release has been higher than expected at +0.6% vs. +0.3%.

Today we won’t get any new important economic data announcements.

Where would the price of gold go following Friday’s Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 36-month-long period of time that contains of thirty six NFP releases. The following chart shows the average gold price path before and after the NFP releases for the past 36 months. The market was usually advancing ahead of the release day and closing 0.30% 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:

Tuesday, September 7

  • 12:30 a.m. Australia – RBA Rate Statement, Cash Rate
  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment

Wednesday, September 8

  • 10:00 a.m. U.S. – JOLTS Job Openings
  • 10:00 a.m. Canada – BOC Rate Statement, Ivey PMI, Overnight Rate
  • 1:01 p.m. U.S. – 10-y Bond Auction
  • 1:10 p.m. U.S. – FOMC Member Williams Speech
  • 2:00 p.m. U.S. – Beige Book

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: Friday, Sep. 3 – Gold Slightly Higher Ahead of the NFP Release

The gold futures contract lost 0.25% on Thursday, as it continued to fluctuate within a short-term consolidation following the recent breakout above the $1,800 price level. Last week the market broke above the recent local high of around $1,812 after a dovish speech from the Fed Chair Jerome Powell. Since then it has been fluctuating within a relatively narrow trading range. This morning gold is trading closer to yesterday’s daily high, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.3% higher, as it is still trading above the $1,800 price level. What about the other precious metals? Silver is 0.8% higher, platinum is 0.5% higher and palladium is 0.3% higher . So precious metals’ prices are higher this morning.

Yesterday’s Unemployment Claims release has been slightly better than expected at 340,000.

The markets will be waiting for today’s monthly jobs data release at 8:30 a.m. The Nonfarm Payrolls number is expected to come at +720,000, and the Unemployment Rate is expected at 5.2%.

Where would the price of gold go following Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 36-month-long period of time that contains of thirty six NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. The last three cases are marked with dashed lines. Gold gained 1.45% in July and in August it lost 2.58%.

The following chart shows the average gold price path before and after the NFP releases for the past 36 months. The market was usually advancing ahead of the release day and closing 0.30% higher on the 10th day after the NFP release.

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

Friday, September 3

  • 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI

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: Thursday, Sep. 2 – Gold Unchanged Ahead of Series of Data Releases

The gold futures contract lost 0.12% on Wednesday, as it extended its short-term consolidation following the recent breakout above the $1,800 price level. Last week the market broke above the recent local high of around $1,812 following Friday’s dovish speech from the Fed Chair Jerome Powell at the Jackson Hole Symposium. Since then it has been fluctuating within a relatively narrow trading range. This morning gold is trading within its yesterday’s daily range, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is virtually flat, as it is still trading within a short-term consolidation. What about the other precious metals? Silver is 0.1% higher, platinum is 0.7% lower and palladium is unchanged. So precious metals’ prices are mixed this morning.

Yesterday’s ADP Non-Farm Employment Change has been worse than expected at +374,000 vs. +640,000 and the ISM Manufacturing PMI release has been better than expected at 59.9 vs. 58.5. Today we will get the Unemployment Claims, Nonfarm Productivity, Trade Balance and Factory Orders releases. We will also have some Fed-talk later in the day.

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

Where would the price of gold go following Friday’s Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 36-month-long period of time that contains of thirty six NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. The last three cases are marked with dashed lines. Gold gained 1.45% in July and in August it lost 2.58%.

The following chart shows the average gold price path before and after the NFP releases for the past 36 months. The market was usually advancing ahead of the release day and closing 0.30% 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:

Thursday, September 2

  • 8:30 a.m. U.S. – Unemployment Claims, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q, Trade Balance
  • 10:00 a.m. U.S. – Factory Orders m/m
  • 1:00 p.m. U.S. – FOMC Member Bostic Speech
  • 3:00 p.m. U.S. – FOMC Member Daly Speech

Friday, September 3

  • 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI

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, Sep. 1 – Gold’s Consolidation, Friday’s Jobs Data in Focus

The gold futures contract gained 0.33% on Tuesday, as it continued to trade within a short-term consolidation following the recent breakout above the $1,800 price level. On Friday, the market broke above the recent local high of around $1,812 following a dovish speech from the Fed Chair Jerome Powell at the Jackson Hole Symposium. On Wednesday and Thursday the market retreated below $1,800 level again, but it was just a short-term weakness. This morning the yellow metal is trading within the yesterday’s daily range, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% lower, as it is trading within a short-term consolidation. What about the other precious metals? Silver is 0.1% higher, platinum is 0.3% lower and palladium is 0.5% higher. So precious metals’ prices are mixed this morning.

Yesterday’s CB Consumer Confidence release has been worse than expected at 113.8. Today we will get the important ADP Non-Farm Employment Change and ISM Manufacturing PMI releases.

Where would the price of gold go following Friday’s Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 36-month-long period of time that contains of thirty six NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. The last three cases are marked with dashed lines. Gold gained 1.45% in July and in August it lost 2.58%.

The following chart shows the average gold price path before and after the NFP releases for the past 36 months. The market was usually advancing ahead of the release day and closing 0.30% 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, September 1

  • 3:55 a.m. Eurozone – German Final Manufacturing PMI
  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 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
  • 12:00 p.m. U.S. – FOMC Member Bostic Speech
  • All Day – OPEC Meetings, OPEC-JMMC Meetings

Thursday, September 2

  • 8:30 a.m. U.S. – Unemployment Claims, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q, Trade Balance
  • 10:00 a.m. U.S. – Factory Orders m/m
  • 1:00 p.m. U.S. – FOMC Member Bostic Speech

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, Aug. 31 – Gold Going Sideways Despite Rallying Stock Market

The gold futures contract lost 0.40% on Monday, as it fluctuated following its Friday’s run-up of 1.4%. Recently, the market broke above the recent local high of around $1,812 following a dovish speech from the Fed Chair Jerome Powell at the Jackson Hole Symposium. On Wednesday and Thursday the market retreated below $1,800 level again, but it was just a short-term weakness. This morning the yellow metal is trading along yesterday’s daily low, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% higher, as it is still trading above the $1,820 price level. What about the other precious metals? Silver is 0.2% higher, platinum is 0.2% lower and palladium is 0.4% lower. So precious metals’ prices are mixed this morning.

Yesterday’s Pending Home Sales release has been at -1.8% vs. the expectations of +0.5%. Today we will get the CB Consumer Confidence release at 10:00 a.m., among others. The markets will be waiting for Friday’s monthly jobs data announcement.

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

Tuesday, August 31

  • 8:30 a.m. Canada – GDP m/m
  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – CB Consumer Confidence
  • 9:30 p.m. Australia – GDP q/q
  • 9:45 p.m. China – Caixin Manufacturing PMI

Wednesday, September 1

  • 3:55 a.m. Eurozone – German Final Manufacturing PMI
  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 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
  • 12:00 p.m. U.S. – FOMC Member Bostic Speech
  • All Day – OPEC Meetings, OPEC-JMMC Meetings

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, Aug. 30 – Gold Above $1,800 Again Following Powell’s Dovish Speech

The gold futures contract gained 1.35% on Friday, as it broke above its recent local high of around $1,812 following a dovish speech from the Fed Chair Jerome Powell at the Jackson Hole Symposium. On Wednesday and Thursday the market retreated below $1,800 level again, but it was just a short-term weakness. Gold is now trading along $1,820 price level. This morning the yellow metal is basically at the Friday’s daily closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is virtually flat right now, as it is trading below the $1,820 price level. What about the other precious metals? Silver is 0.5% higher, platinum is 0.2% lower and palladium is 1.6% higher. So precious metals’ prices are mixed this morning.

Friday’s important Core PCE Price Index release has been as expected at +0.3% m/m, but the Personal Income/ Personal Spending releases have been mixed. Today we will get the Pending Home Sales release at 10:00 a.m. The markets will be waiting for Friday’s monthly jobs data announcement. And tomorrow we will have the CB Consumer Confidence release.

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

Monday, August 30

  • 10:00 a.m. U.S. – Pending Home Sales m/m
  • 9:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI
  • All Day, U.K. – Bank Holiday

Tuesday, August 31

  • 8:30 a.m. Canada – GDP m/m
  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – CB Consumer Confidence
  • 9:30 p.m. Australia – GDP q/q
  • 9:45 p.m. China – Caixin Manufacturing PMI

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: Thursday, August 26 – Gold Flat Ahead of Jackson Hole Symposium

The gold futures contract lost 0.97% on Wednesday, as it retraced most of its Monday’s advance. On Monday the market broke above a short-term consolidation following the mid-August advances. But yesterday it came back below the $1,800 price level. This morning gold is trading along yesterday’s daily closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% lower, as it is trading below the $1,800 price level. What about the other precious metals? Silver is 0.8% lower, platinum is 0.5% lower and palladium is 1.1% lower. So precious metals’ prices are lower this morning.

Yesterday’s Durable Goods Orders release has been slightly better than expected at -0.1%. Today we will get the Preliminary GDP, Unemployment Claims releases at 8:30 a.m.

The markets will also be waiting for the Jackson Hole Symposium that begins today. And tomorrow we will get a speech from the Fed Chair Powell.

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

Thursday, August 26

  • 8:30 a.m. U.S. – Preliminary GDP q/q, Unemployment Claims, Preliminary GDP Price Index q/q
  • All Day, U.S. – Jackson Hole Symposium Day 1

Friday, August 27

  • 8:30 a.m. U.S. – Core PCE Price Index m/m, Personal Income m/m, Personal Spending m/m, Goods Trade Balance, Preliminary Wholesale Inventories m/m
  • 10:00 a.m. U.S. – Fed Chair Powell Speech, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
  • All Day, U.S. – Jackson Hole Symposium Day 2

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, August 25 – Gold Back Below $1,800 Again

The gold futures contract gained 0.12% on Tuesday, as it fluctuated within a relatively narrow daily trading range following Monday’s advance of 1.25% and a breakout above a short-term consolidation following the mid-August advances. The market also broke above the $1,800 price mark on Monday and it got back to July consolidation of $1,790-1,840. But this morning gold is trading slightly below the $1,800 price level again, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.6% lower, as it is retracing some of Monday’s advance. What about the other precious metals? Silver is 0.6% lower, platinum is 1.5% lower and palladium is 1.0% lower. So precious metals’ prices are lower this morning.

Yesterday’s New Home Sales release has been better than expected at 708,000 but Richmond Manufacturing Index has been worse than expected at only 9. Today we will get the Durable Goods Orders number at 8:30 a.m.

The markets will be waiting for the Jackson Hole Symposium that begins on Thursday. On Friday we will get a speech from the Fed Chair Powell.

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

Wednesday, August 25

  • 4:00 a.m. Eurozone – German ifo Business Climate
  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m

Thursday, August 26

  • 8:30 a.m. U.S. – Preliminary GDP q/q, Unemployment Claims, Preliminary GDP Price Index q/q
  • All Day, U.S. – Jackson Hole Symposium Day 1

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, August 24 – Gold Above $1,800 Again

The gold futures contract gained 1.25% on Monday, as it broke above its short-term consolidation following the mid-August advances. The market also broke above the $1,800 price mark. It got back to July consolidation of $1,790-1,840. This morning gold is trading along yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% lower, as it is trading slightly above the $1,800 price level. What about the other precious metals? Silver is 0.5% higher, platinum is 0.4% higher and palladium is 3.0% higher. So precious metals’ prices are mixed this morning.

Yesterday’s U.S. Flash Manufacturing PMI, Flash Services PMI releases have been worse than expected and the Existing Home Sales release has been better than expected. But the stock market reached new record high and gold followed higher. Today we will get the New Home Sales and Richmond Manufacturing Index releases.

The markets will be waiting for the Jackson Hole Symposium that begins on Thursday.

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

Tuesday, August 24

  • 10:00 a.m. U.S. – New Home Sales, Richmond Manufacturing Index

Wednesday, August 25

  • 4:00 a.m. Eurozone – German ifo Business Climate
  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders 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.

* * * * *

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.