The gold futures contract gained 2.01% on Wednesday, as it broke above its two-week-long consolidation along the $1,750 price level. The market reacted to higher than expected Consumer Price Index release, among other factors. This morning gold is trading along the $,1800 price level, as we can see on the daily chart (the chart includes today’s intraday data):
Today gold is 0.4% higher, as it is slightly extending its yesterday’s rally. What about the other precious metals? Silver is 1.2% higher, platinum is 1.5% higher and palladium is 3.5% higher. So precious metals’ prices are higher again this morning.
Yesterday’s Consumer Price Index release has been higher than expected at +0.4% vs. the forecast number of +0.3%. Today we will get the Producer Price Index and the Unemployment Claims releases.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, October 14
8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims
10:00 a.m. U.S. – FOMC Member Bostic Speech
1:00 p.m. U.S. – FOMC Member Barkin Speech
Friday, October 15
8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Business Inventories m/m, Preliminary UoM Inflation Expectations
12:20 p.m. U.S. – FOMC Member Williams Speech
All Day – IMF Meetings
For a look at all of today’s economic events, check out our economic calendar.
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