Daily Gold News: Jan. 20 – Gold Price Is at New High Again

Yellow metal extended the uptrend on weaker U.S. dollar, stocks.

The gold futures contract gained 0.89% on Thursday, Jan. 19, as it retraced its short-term decline after bouncing from the $1,900 price level. The yellow metal advanced on weaker U.S. dollar following economic data releases, among other factors. Recently it fluctuated following Central Banks’ monetary policy releases, stock markets’ volatility. This morning gold slightly extended the uptrend, as we can see on the daily chart (the chart includes today’s intraday data):

Today the gold price is 0.2% lower, as it is trading along the $1,930 level. What about the other precious metals? Silver is 0.4% higher, platinum is 0.6% lower and palladium is 1.4% lower. So the main precious metals’ prices are mixed again this morning.

Yesterday’s Philly Fed Manufacturing Index release has been slightly better than expected at -8.9. Today we will have the Existing Home Sales number release at 10:00 a.m., among others.

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

Friday, January 20

  • 5:00 a.m. Eurozone - ECB President Lagarde Speech
  • 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
  • 9:00 a.m. U.S. - FOMC Member Harker Speech
  • 10:00 a.m. U.S. - Existing Home Sales
  • 1:00 p.m. U.S. - FOMC Member Waller Speech
  • All Day - WEF Annual Meetings

Monday, January 23

  • 10:00 a.m. U.S. - CB Leading Index m/m
  • All Day, China - Bank Holiday

Paul Rejczak
Stock Trading Strategist