Daily Gold News: Low Volatility Ahead of New Year Break

The gold futures contract gained 0.56% on Wednesday, as it extended its two-week-long consolidation. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Since then it has been retracing the decline, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.1% lower this morning, as it is trading along yesterday’s daily closing price. What about the other precious metals? Silver gained 1.36% on Wednesday and today it is 0.9% lower. Platinum gained 1.50% and today it is 0.5% higher. Palladium gained 1.45% yesterday and today it’s 1.0% higher. So precious metals are higher this morning .

Yesterday’s Chicago PMI release has been better than expected at 59.5. Today we will get the Unemployment Claims number at 8:30 a.m.

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

Thursday, December 31

  • 8:30 a.m. U.S. – Unemployment Claims
  • All Day, Eurozone – German Bank Holiday
  • All Day, Japan – Bank Holiday
  • All Day, China – Bank Holiday
  • All Day, Australia – Bank Holiday

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

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

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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 Price Forecast – Collapsing Dollar Could Push Gold to $2300 by May 2021

DOLLAR DAILY

I think the dollar is experiencing a meaningful devaluation. Prices are extremely overdue for a bounce, but the trend pushes persistently lower. The final area of support arrives at the 2018 low of 88.15. If that level fails, I believe the USD could collapse to 80 by April/May 2021.

DOLLAR MONTHLY

We are in a similar setup to the post-trendline breakdown of gold in 2002/2003. Consequently, I believe the dollar is on the verge of an accelerated decline towards 80. The weakening dollar should push gold higher into April/May 2021 before the next 6-month cycle correction.

In 2002/2003, the US was coming out of recession, just like now. The recent $900-billion relief package will not be the last. I expect one or two more programs next year – this should continue to deflate the dollar and push hard assets higher.

MEDIUM-TERM GOLD FORECAST

GOLD DAILY

The 6-month cycle in gold likely bottomed at $1767.20 in November. Prices are climbing the “wall of worry,” and I expect a breakout above the intermediate trendline within the next 1 to 3-weeks. The trigger event to push gold through the trendline could arrive any day, but the time surrounding the January 5th run-off election in Georgia is of particular interest. The minimum target on a breakout is $2300 for this leg higher.

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Note- Silver and Platinum are leading gold and should outperform gold in 2021. Our educational metals portfolio is long GDXJ, SILJ, GDX.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. He posts daily updates to Premium Members. For more information, please visit here.

Daily Gold News: Wednesday, Dec. 30 – Gold Still Going Sideways

The gold futures contract gained 0.13% on Tuesday, as it continued to trade within its two-week-long consolidation. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Since then it has been retracing the decline, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.1% higher this morning, as it is trading within yesterday’s daily range. What about the other precious metals? Silver lost 1.21% on Tuesday and today it is 0.6% higher. Platinum gained 1.87% and today it is 1.1% higher. Palladium lost 0.33% on Tuesday and today it’s 0.2% higher. So precious metals are slightly higher this morning .

Today we will get the Chicago PMI release, among others. It is expected to decline to 56.6 from the previous month’s level of 58.2

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

Wednesday, December 30

  • 8:30 a.m. U.S. – Goods Trade Balance, Preliminary Wholesale Inventories m/m
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – Pending Home Sales m/m
  • 8:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI
  • All Day, Japan – Bank Holiday

Thursday, December 31

  • 8:30 a.m. U.S. – Unemployment Claims
  • All Day, Eurozone – German Bank Holiday
  • All Day, Japan – Bank Holiday
  • All Day, China – Bank Holiday
  • All Day, Australia – Bank Holiday

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 Sideways Despite Stocks’ New Records

The gold futures contract lost 0.15% on Monday, as it further extended its short-term consolidation. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Since then it has been retracing the decline, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.3% higher this morning, as it is trading within yesterday’s daily range. What about the other precious metals? Silver gained 2.44% on Monday and today it is 0.3% lower. Platinum gained 1.38% and today it is 0.6% higher. Palladium gained 0.25% on Monday and today it’s 0.3% higher. So precious metals are advancing this morning .

Today we won’t get any new important economic data releases. The markets will be waiting for Wednesday’s Chicago PMI number release, among others.

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

Tuesday, December 29

  • No important economic data releases

Wednesday, December 30

  • 8:30 a.m. U.S. – Goods Trade Balance, Preliminary Wholesale Inventories m/m
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – Pending Home Sales m/m
  • 8:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI
  • All Day, Japan – Bank Holiday

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

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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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, Dec. 28 – Gold Lower as Dollar Gains

The gold futures contract gained 0.27% on Thursday, as it continued to fluctuate within a short-term consolidation. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Since then it has been retracing some of the decline, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% lower this morning, as it is further extending its short-term consolidation after bouncing from $1,900 resistance level. Earlier in the morning the market was gaining in reaction to new U.S. stimulus package. What about the other precious metals? Silver lost 0.05% on Thursday and today it is 1.6% higher. Platinum gained 1.16% and today it is 0.7% higher. Palladium gained 0.29% on Thursday and today it’s 0.7% higher. So precious metals are mixed this morning .

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

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

Monday, December 28

  • All Day, Canada – Bank Holiday

Tuesday, December 29

  • No important economic data releases

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: Slightly Higher Ahead of Holiday Weeekend

The gold futures contract lost 0.66% on Tuesday, as it extended its short-term consolidation. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Last week gold broke above the previous local high following Wednesday’s FOMC release and then it reached its mid-November local high, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.3% higher this morning, as it is further extending its short-term consolidation. What about the other precious metals? Silver lost 3.20% on Tuesday and today it is 1.1% higher. Platinum lost 0.66% and today it is 0.7% higher. Palladium gained 0.29% yesterday and today it’s 0.4% higher. So precious metals are higher this morning .

Yesterday’s U.S. Final GDP q/q release has been slightly better than expected at +33.4% and the Consumer Confidence release has been worse than expected at 88.6.

Today we will get the Unemployment Claims, Personal Income, Personal Spending releases, among others.

Gold price broke above its previous local high after last week’s Wednesday’s FOMC Statement announcement. The market followed the average historical path , as we can see on the next chart.

The chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 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 0.45% 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, December 23

  • 8:30 a.m. U.S. – Unemployment Claims, Personal Income m/m, Personal Spending m/m, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Core PCE Price Index m/m
  • 8:30 a.m. Canada – GDP m/m
  • 10:00 a.m. U.S. – New Home Sales, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations

Thursday, December 24

  • All Day, Eurozone – German Bank Holiday

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, Dec. 22 – Gold Going Sideways

The gold futures contract lost 0.32% on Monday, as it continued to fluctuate following last Thursday’s advance. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. On Thursday gold broke above the previous local high following Wednesday’s FOMC release and then it reached its mid-November local high, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% lower this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver gained 1.33% on Monday and today it is 1.0% lower. Platinum lost 2.59% and today it is 0.5% higher. Palladium lost 2.34% yesterday and today it’s 0.3% higher. So precious metals are mixed this morning .

Today we will he U.S. Final GDP q/q release at 8:30 a.m. and the Consumer Confidence number at 10:00 a.m., among others.

Gold price broke above its previous local high after last week’s Wednesday’s FOMC Statement announcement. The market followed the average historical path , as we can see on the next chart.

The chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 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 0.45% 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, December 22

  • 8:30 a.m. U.S. – Final GDP q/q , Final GDP Price Index q/q
  • 10:00 a.m. U.S. – CB Consumer Confidence, Existing Home Sales, Richmond Manufacturing Index

Wednesday, December 23

  • 8:30 a.m. U.S. – Unemployment Claims, Personal Income m/m, Personal Spending m/m, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Core PCE Price Index m/m
  • 8:30 a.m. Canada – GDP m/m
  • 10:00 a.m. U.S. – New Home Sales, Revised UoM Consumer Sentiment, Revised 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: Monday, Dec. 21 – Gold’s Increased Volatility

The gold futures contract lost 0.08% on Friday, as it fluctuated following Thursday’s advance. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. On Thursday gold broke above the previous local high following last Wednesday’s FOMC release and then it reached its mid-November local high, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% lower this morning, as it is trading along Friday’s daily closing price. What about the other precious metals? Silver lost 0.57% on Friday and today it is 1.6% higher. Platinum lost 0.67% and today it is 4.7% lower. Palladium gained 1.04% on Friday and today it’s 2.3% lower. So precious metals are mixed this morning .

Today we won’t get any new important economic data releases. The U.S. Final GDP q/q will be released on Tuesday.

Gold price broke above its previous local high after last week’s Wednesday’s FOMC Statement announcement. The market followed its average historical path , as we can see on the next chart.

The chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 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 0.45% 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, December 21

No important economic data releases

Tuesday, December 22

  • 8:30 a.m. U.S. – Final GDP q/q , Final GDP Price Index q/q
  • 10:00 a.m. U.S. – CB Consumer Confidence, Existing Home Sales, Richmond Manufacturing Index

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, Dec. 18 – Gold Closer to $1,900 Again

The gold futures contract gained 1.68% on Thursday, as it extended its short-term advance. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Yesterday gold broke above the previous local high following Wednesday’s FOMC release and then it reached its mid-November local high, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.1% lower this morning, as it is trading along yesterday’s daily closing price. What about the other precious metals? Silver gained 4.51% on Thursday and today it is 0.9% lower. Platinum gained 1.42% and today it is 0.2% higher. Palladium lost 0.03% and today it’s 0.2% lower. So precious metals are mixed this morning .

Yesterday’s Unemployment Claims release has been worse than expected and Building Permits/ Housing Starts releases have been better than expected.

Gold price broke above its previous local high after Wednesday’s FOMC Statement announcement. The market followed its average historical path , as we can see on the next chart.

The chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 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 0.45% higher 10 days after the FOMC Statement announcement.

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

Friday, December 18

  • 4:00 a.m. Eurozone – German ifo Business Climate
  • 10:00 a.m. U.S. – CB Leading Index m/m
  • 4:30 p.m. U.S. – Bank Stress Test Results

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, Dec. 17 – Gold Going Higher After FOMC

The gold futures contract gained 0.20% on Wednesday, as it retraced the whole of its last week’s decline. In late November the market has reached a new low after breaking below local lows along the price level of $1,850. Today gold is breaking above the previous local high following yesterday’s FOMC release, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.7% higher this morning, as it is extending its short-term advance following weakening U.S. dollar. What about the other precious metals? Silver gained 1.66% on Wednesday and today it is 1.7% higher. Platinum lost 0.38% and today it is 1.8% higher. Palladium gained 1.04% yesterday and today it’s 1.0% higher. So precious metals are higher again this morning .

Yesterday’s U.S. PMI release has been as expected and the Retail Sales release has been worse than expected.

But the markets were waiting for the FOMC Statement announcement.

Where would the price of gold go following yesterday’s Fed news release? We’ve compiled the data since January of 2017, a 47-month-long period of time that contains of thirty two 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. But we’ve had an increased volatility following coronavirus fear then.

The previous FOMC Statement release came out two days after the U.S. Presidential Election, on November 5 th . Gold price was 4.4% lower 10 days after the release.

The following chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 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 0.45% 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, December 17

  • 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index, Building Permits, Housing Starts
  • Tentative, Japan – Monetary Policy Statement , BOJ Policy Rate, BOJ Press Conference

Friday, December 18

  • 4:00 a.m. Eurozone – German ifo Business Climate
  • 10:00 a.m. U.S. – CB Leading Index m/m
  • 4:30 p.m. U.S. – Bank Stress Test Results

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 Slightly Higher, FOMC in Focus

The gold futures contract gained 1.27% on Tuesday, as it retraced some of its last week’s decline following U.S. dollar’s decline. In late November the market has reached a new low after breaking below local lows along the price level of $1,850. Last week the market has bounced off its mid-November local highs, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.3% higher this morning, as it is extending yesterday’s advance. What about the other precious metals? Silver gained 2.48% on Tuesday and today it is 2.7% higher. Platinum gained 2.33% and today it is 0.6% higher. Palladium gained 0.22% yesterday and today it’s 1.0% higher. So precious metals are higher again this morning .

Yesterday’s Empire State Manufacturing Index release has been worse than expected and the Industrial Production has been slightly better than expected.

Today we’ve got much better-than-expected PMI releases from the Eurozone . We will also get the U.S. PMI numbers and Retail Sales this morning.

But the markets are waiting for today’s FOMC Statement announcement (2:00 p.m.).

Where would the price of gold go following that news release? We’ve compiled the data since January of 2017, a 47-month-long period of time that contains of thirty two 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. But we’ve had an increased volatility following coronavirus fear then.

The latest FOMC Statement release came out two days after the U.S. Presidential Election, on November 5 th . Gold price was 4.4% lower 10 days after the release.

The following chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 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 0.45% 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, December 16

  • 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
  • 8:30 a.m. U.S. – Retail Sales m/m , Core Retail Sales m/m
  • 9:45 a.m. U.S. – Flash Manufacturing PMI , Flash Services PMI
  • 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
  • 2:00 p.m. U.S. – FOMC Statement , Federal Funds Rate , FOMC Economic Projections
  • 2:30 p.m. U.S. – FOMC Press Conference
  • 7:30 p.m. Australia – Employment Change, Unemployment Rate
  • All Day – OPEC-JMMC Meetings

Thursday, December 17

  • 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index, Building Permits, Housing Starts
  • Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate, BOJ Press Conference

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 Gaining Ahead of Wednesday’s FOMC

The gold futures contract lost 0.62% on Monday, as it extended its short-term consolidation following last week’s Wednesday’s decline of almost 2%. In late November the market has reached a new low after breaking below local lows along the price level of $1,850. The market bounced off its mid-November local highs, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 1.1% lower this morning, as it is retracing some of the recent decline. What about the other precious metals? Silver lost 0.19% on Monday and today it is 1.6% higher. Platinum lost 0.61% and today it is 0.9% higher. Palladium lost 0.61% yesterday and today it’s 1.3% higher. So precious metals are higher this morning .

Today we will get the Empire State Manufacturing Index and Industrial Production releases, among others.

But the markets will be waiting for tomorrow’s FOMC Statement announcement and series of important economic data releases.

Let’s focus on tomorrow’s Fed announcement. Where would the price of gold go following that news release? We’ve compiled the data since January of 2017, a 47-month-long period of time that contains of thirty two 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. But we’ve had an increased volatility following coronavirus fear then.

The latest FOMC Statement release came out two days after the U.S. Presidential Election, on November 5 th . Gold price was 4.4% lower 10 days after the release.

The following chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 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 0.45% 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, December 15

  • 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, December 16

  • 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
  • 8:30 a.m. U.S. – Retail Sales m/m , Core Retail Sales m/m
  • 9:45 a.m. U.S. – Flash Manufacturing PMI , Flash Services PMI
  • 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
  • 2:00 p.m. U.S. – FOMC Statement , Federal Funds Rate , FOMC Economic Projections
  • 2:30 p.m. U.S. – FOMC Press Conference
  • 7:30 p.m. Australia – Employment Change, Unemployment Rate
  • All Day – 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, Dec. 14 – Gold Trading Along Recent Lows

The gold futures contract gained 0.34% on Friday, as it continued to fluctuate following last week’s Wednesday’s decline of almost 2%. In late November the market has reached a new low after breaking below local lows along the price level of $1,850. The market bounced off its mid-November local highs, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.8% lower this morning, as it is trading slightly below its short-term local lows. What about the other precious metals? Silver lost 0.01% on Friday and today it is 0.4% lower. Platinum lost 0.57% and today it is 1.5% higher. Palladium lost 0.1% on Friday and today it’s 0.5% higher. So precious metals are mixed this morning .

Friday’s U.S. Producer Price Index release has been as expected at +0.1%. Today we won’t get any new important economic data releases. The 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, December 14

  • No important economic data releases

Tuesday, December 15

  • 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

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, Dec. 11 – Gold’s Short-term Consolidation

The gold futures contract lost 0.06% on Thursday, as it fluctuated following Wednesday’s decline of almost 2%. Last week the market has reached a new low after breaking below local lows along the price level of $1,850. Four weeks ago gold sold off 5% in one day after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The market bounced off its mid-November local highs on Wednesday, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% lower this morning, as it is trading along the recent closing prices. What about the other precious metals? Silver gained 0.43% on Thursday and today it is 0.7% lower. Platinum gained 0.9% and today it is 1.6% lower. Palladium gained 1.95% yesterday and today it’s 0.1% lower. So precious metals are lower this morning .

Yesterday’s U.S. Consumer Price Index release has been slightly higher than expected at +0.2%. Today we will get the U.S. Producer Price Index , among others.

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

Friday, December 11

  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
  • All Day, Eurozone – Euro Summit

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, Dec. 10 – Uncertainty Ahead of ECB News

The gold futures contract lost 1.94% on Wednesday, as it retraced some of its recent advances. Last week the market has reached a new low following breaking below local lows along the price level of $1,850. Four weeks ago gold sold off 5% in one day after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The market bounced off its mid-November local highs yesterday, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% lower this morning, as it is trading close to yesterday’s daily low. What about the other precious metals? Silver lost 3.02% on Wednesday and today it is 0.3% lower. Platinum lost 1.78% and today it is 0.9% higher. Palladium lost 1.60% on Wednesday and today it’s 1.4% higher. So precious metals are mixed this morning .

Yesterday’s Wholesale Inventories release has been slightly bigger than expected at +1.1%.

Today the markets will be closely watching ECB releases at 7:45 a.m. and 8:30 a.m. We will also have the U.S. Consumer Price Index release 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, December 10

  • 7:45 a.m. Eurozone – Main Refinancing Rate , Monetary Policy Statement
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m, Unemployment Claims
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 2:00 p.m. U.S. – Federal Budget Balance

Friday, December 11

  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
  • 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, Dec. 9 – Gold’s Downward Correction

The gold futures contract gained 0.48% on Tuesday, as it slightly extended its recent advance. Last week the market has reached a new low following breaking below local lows along the price level of $1,850. Four weeks ago gold sold off 5% in one day after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The market is trading above $1,850 price level again, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.9% lower this morning, as it is retracing some of the recent advances. What about the other precious metals? Silver lost 0.23% on Tuesday and today it is 2.1% lower. Platinum lost 1.18% and today it is 1.4% lower. Palladium lost 1.00% on Tuesday and today it’s 0.7% lower. So precious metals are lower this morning .

Yesterday’s Nonfarm Productivity number release has been slightly worse than expected at +4.6%. Today we will get Final Wholesale Inventories data, among others. The markets will await ECB talk on Thursday.

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

Wednesday, December 9

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

Thursday, December 10

  • 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m, Unemployment Claims
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 2:00 p.m. U.S. – Federal Budget Balance

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: Consolidation Following Monday’s Rally

The gold futures contract gained 1.41% on Monday, as it extended its recent advance. Last week the market has reached a new low following breaking below local lows along the price level of $1,850. Four weeks ago gold sold off 5% in one day after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The market is above $1,850 price level again, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.1% higher this morning, as it is fluctuating following yesterday’s advance. What about the other precious metals? Silver gained 2.23% on Monday and today it is 0.3% higher. Platinum lost 2.18% and today it is unchanged. Palladium lost 0.28% on Monday and today it’s 1.5% lower. So precious metals are mixed this morning .

Yesterday we didn’t get any new important economic data releases. Today there will be a Nonfarm Productivity number release at 8:30 a.m.

Let’s focus on last Friday’s Nonfarm Payrolls release. Where would the price of gold go following that news? We’ve compiled the data since September of 2018, a 26-month-long period of time that contains of twenty six NFP releases. The following chart shows the average gold price path before and after the NFP releases for the past 26 months. The market was usually fluctuating for a week before advancing and closing 0.47% 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:

Tuesday, December 8

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q
  • 8:30 p.m. China – CPI y/y, PPI y/y

Wednesday, December 9

  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m, JOLTS Job Openings
  • 10:00 a.m. Canada – BOC Rate Statement, Overnight 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, Dec. 7 – Gold Bouncing Off $1,850

The gold futures contract lost 0.06% on Friday, as it fluctuated following its recent advance. Last week the market has reached a new low following breaking below local lows along the price level of $1,850. Four weeks ago gold sold off 5% in one day after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The market is close to $1,850 price level again, 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 retracing some of last week’s rebound. What about the other precious metals? Silver gained 0.48% on Friday and today it is 1.8% lower. Platinum gained 3.29% and today it is 3.8% lower. Palladium gained 1.72% on Friday and today it’s 0.5% lower. So precious metals are lower this morning .

Friday’s Nonfarm Payrolls release has been worse than expected at +245,000. But the Unemployment Rate has been slightly better than expected at 6.7%. Today we won’t get any new important economic data releases.

Let’s focus on Friday’s Nonfarm Payrolls release. Where would the price of gold go following that news? We’ve compiled the data since September of 2018, a 26-month-long period of time that contains of twenty six NFP releases. The following chart shows the average gold price path before and after the NFP releases for the past 26 months. The market was usually fluctuating for a week before advancing and closing 0.47% 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, December 7

  • 10:00 a.m. Canada – Ivey PMI

Tuesday, December 8

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q
  • 8:30 p.m. China – CPI y/y, PPI 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.

 

Daily Gold News: Friday, Dec. 4 – Gold Going Sideways Ahead of NFP

The gold futures contract gained 0.60% on Thursday, as it extended its short-term uptrend. On Monday the market has reached a new low following breaking below the recent local lows along the price level of $1,850. More than three weeks ago gold sold off 5% in one day after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. Last week there has been a breakdown below $1,850, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is unchanged this morning, as it is trading along its previous local lows. What about the other precious metals? Silver gained 0.24% on Thursday and today it is 0.7% higher. Platinum gained 2.62% and today it is 3.0% higher. Palladium lost 3.75% yesterday and today it’s 1.7% higher. So precious metals are mixed this morning .

Yesterday’s Unemployment Claims release has been better than expected and the ISM Services PMI release has been as expected.

Today we will get the monthly jobs data release .

Let’s focus on the the Nonfarm Payrolls . Where would the price of gold go following that release? We’ve compiled the data since September of 2018, a 26-month-long period of time that contains of twenty 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 lost almost 4% in August, but it gained 0.3-0.7% in September and October.

The following chart shows the average gold price path before and after the NFP releases for the past 26 months. The market was usually fluctuating for a week before advancing and closing 0.47% 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, December 4

  • 8:30 a.m. U.S. – Non-Farm Employment Change , Unemployment Rate , Average Hourly Earnings m/m , Trade Balance
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate
  • 10:00 a.m. U.S. – Factory Orders m/m, FOMC Member Bowman 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.

 

Platinum Begins A New Rally – Gold & Silver Will Follow

My researcher team and I have highlighted a number of recent articles about Gold and Silver and how we believed the longer-term price activity and technical analysis supported a broad market advance in Precious Metals over the next 5+ years.  If not, check out Part I and Part II of our recent Gold and Silver research and price predictions.

Today, we are seeing further evidence that metals are on the move – in Platinum. Platinum has been trading below $1000 for quite a while and this is roughly HALF the price level of Gold.  Typically, Platinum rallies before Gold rallies in a traditional trending phase.  Platinum rallies because it is used in industrial and other fields – thus it rallies in an advanced market rally phase.  Gold begins to rally when a certain level of fear enters the markets or the markets enter a depreciation phase.

Currently, we are watching Platinum rally above $1000 for the first time since August 2020 and it appears new all-time highs in Platinum are on the horizon.  This suggests Gold and Silver will follow this upward trend in another rally phase and attempt to set new all-time highs as well.

DAILY PLATINUM BREAKOUT PENDING

This Daily Platinum chart highlights the Rounded Bottom formation that setup between September and November 2020 after the August highs peaked out near $1020.  The recent rally in Platinum has begun to accelerate and we believe an upside breakout move is pending.  This may prompt Platinum to rally above $1250 or more over the next few weeks/months.

THE WEEKLY PLATINUM CHART

This Weekly Platinum Chart highlights the broader market trend in Platinum and the resistance level (RED LINE) that is currently about to be broken.  Once this resistance level is breached, a bigger upside move may begin where Platinum may target $1250 or higher fairly quickly.

As you can see from we believe this move in precious metals aligns with our previous research that a broader market Depreciation phase has set up in the global markets.  We believe precious metals are about 24 months into a 100+ month broad market depreciation cycle.  This means that we may see a rally in metals that lasts for several more years.

As many of you may already know, we love the metals and we love to apply our technical analysis skills and pattern research onto these charts.  Could you imagine the scope of the rally that is setting up in Platinum mirrors the 2003 to 2010 price rally – just waiting for this breakout pattern to complete?

Get ready because this could be one of the biggest upside price moves in precious metals in over a decade.

Our signals can help you preserve and even grow your long term capital. If you have any type of long-term or buy-and-hold account and are looking for signals as to when to own equities, bonds, or cash, be sure to become a member of my Long-Term ETF Investing Signals, which includes a weekly market update and trade alerts to catch big market rotations.

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

Chris Vermeulen
Chief Market Strategist
www.TheTechnicalTraders.com

NOTICE AND DISCLAIMER: Our free research does not constitute a trade recommendation or solicitation for readers to take any action regarding this research.  We are not registered financial advisors and provide our research for educational and informational purposes only.