Daily Gold News: Jan. 12 – Gold Remains Close to $1,900 Level
Gold price extends its short-term fluctuations ahead of the important inflation data.
The gold futures contract gained 0.13% on Wednesday, Jan. 11, as it fluctuated within a short-term consolidation following the recent advances. Yesterday the market reached new medium-term high of $1,890.90, as it went closer to the $1,900 price level ahead of today’s U.S. consumer inflation number release and last week on Wednesday it traded as low as $1,830. Recently the yellow metal fluctuated following Central Banks’ monetary policy releases, stock markets’ declines. This morning gold is still trading along its recent local highs, as we can see on the daily chart (the chart includes today’s intraday data):
Today the gold price is 0.5% higher, as it is trading above the $1,880 level. What about the other precious metals? Silver is 1.6% higher, platinum is 0.6% lower and palladium is 0.6% lower. So the main precious metals’ prices are higher this morning.
Today we will get the important Consumer Price Index release at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Thursday, January 12
- 7:30 a.m. U.S. - FOMC Member Harker Speech
- 8:30 a.m. U.S. - CPI m/m, CPI y/y, Core CPI m/m, Unemployment Claims
- 1:01 p.m. U.S. - 30-y Bond Auction
- 2:00 p.m. U.S. - Federal Budget Balance
Friday, January 13
- 2:00 a.m. U.K. - GDP m/m
- 8:30 a.m. U.S. - Import Prices m/m
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
Stock Trading Strategist