Daily Gold News: Dec. 16 – Gold Price Retraced Tuesday’s Rally

Gold went below $1,800 again, as Central Banks moved towards more tightening.

The gold futures contract lost 1.70% on Thursday, Dec. 15, as it retraced its Tuesday’s rally following Central Banks’ monetary policy releases, stock markets’ declines. On Tuesday gold price reached new local high of $1,836.90, and it was the highest since the end of June. And this morning gold is trading sideways, 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 slightly bouncing after yesterday’s decline. What about the other precious metals? Silver is 1.0% lower, platinum is 1.2% lower and palladium is 0.6% lower. So the main precious metals’ prices are mixed this morning.

Yesterday’s Retail Sales release has been lower than expected at -0.6% m/m. Today we will get the important U.S. Flash Services PMI, Flash Manufacturing PMI releases at 9:45 a.m.

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

Friday, December 16

  • 3:15 a.m. Eurozone - French Flash Services PMI, French Flash Manufacturing PMI
  • 3:30 a.m. Eurozone - German Flash Services PMI, German Flash Manufacturing PMI
  • 4:30 a.m. U.K. - Flash Services PMI, Flash Manufacturing PMI
  • 9:45 a.m. U.S. - Flash Services PMI, Flash Manufacturing PMI

Monday, December 19

  • 4:00 a.m. Eurozone - German ifo Business Climate
  • 10:00 a.m. U.S. - NAHB Housing Market Index
  • Tentative, Japan - Monetary Policy Statement, BOJ Policy Rate

Paul Rejczak
Stock Trading Strategist