Daily Gold News: Dec. 13 – Gold Price Awaits CPI Release
Gold remains close to $1,800 level, but it’ll be all about the inflation number today.
The gold futures contract lost 1.02% on Monday, Dec. 12, as it extended a short-term consolidation along the $1,800 level. Last week on Monday gold sold off after better than expected economic data, but then it went sideways despite strengtheing U.S. dollar and accompanying stock market’s sell-off. Since then it has been slowly retracing the decline. This morning gold is still trading along the $1,800 level, as we can see on the daily chart (the chart includes today’s intraday data):
Today the gold price is 0.3% higher, as it is going sideways ahead of the important Consumer Price Index release. What about the other precious metals? Silver is 0.5% higher, platinum is 1.3% higher and palladium is 1.0% higher. So the main precious metals’ prices are higher this morning.
The markets will be waiting for the important Consumer Price Index release at 8:30 a.m. It’ll likely lead to a high volatility. Tomorrow we will also get the important FOMC release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Tuesday, December 13
- 6:00 a.m. U.S. - NFIB Small Business Index
- 6:00 a.m. U.K. - BOE Governor Bailey Speech
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y
- 1:01 p.m. U.S. - 30-y Bond Auction
- 5:30 p.m. Australia - RBA Governor Lowe Speech
- Tentative, U.S. - IBD/TIPP Economic Optimism
Wednesday, December 14
- 2:00 a.m. U.K. - CPI y/y
- 8:30 a.m. U.S. - Import Prices m/m
- 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
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