Daily Gold News: Tuesday, Feb. 16 – Gold Continues Sideways
Earlier this month it broke below the previous local low and $1,800 price mark following strengthening U.S. dollar and rallying stock market, among other factors. The market gave back almost all of December’s advance. Last week gold bounced back higher, as we can see on the daily chart ( the chart includes today’s intraday data ):
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Gold is virtually unchanged this morning, as it is extending its short-term consolidation. What about the other precious metals? Silver is 0.1% higher, platinum is 0.5% lower and palladium is 0.6% lower today. So precious metals are mixed this morning.
Yesterday financial markets’ volatility remained low due to U.S. holiday. Today we will get the Empire State Manufacturing Index release at 8:30 a.m. and some Fed talk at 3:00 p.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, February 16
- 5:00 a.m. Eurozone – German ZEW Economic Sentiment
- 8:30 a.m. U.S. – Empire State Manufacturing Index
- 3:00 p.m. U.S. – FOMC Member Daly Speech
- All Day, Eurozone – ECOFIN Meetings
- All Day, China – Bank Holiday
Wednesday, February 17
- 8:30 a.m. U.S. – Retail Sales m/m , Core Retail Sales m/m , PPI m/m, Core PPI m/m
- 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
- 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
- 2:00 p.m. U.S. – FOMC Meeting Minutes
- 7:30 p.m. Australia – Employment Change, Unemployment Rate
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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