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Daily Gold News: Friday, Oct. 22 – Gold Gets Closer to $1,800 Again

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The gold futures contract lost 0.17% on Thursday, as it further extended its consolidation along the $1,750-1,800. Last week gold bounced from the $1,800 price level and on Monday it reached a local low of around $1,760. Since Tuesday it has been trading along the $1,780. And this morning gold is getting closer to the $1,800 price level again, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.5% higher, as it is trading a few points below the $1,800 level. What about the other precious metals? Silver is 0.6% higher, platinum is 1.0% higher and palladium is 0.2% higher. So precious metals’ prices are higher this morning.

Yesterday’s Philly Fed Manufacturing Index release has been worse than expected at 23.8 and the Unemployment Claims release has been better than expected at 290,000. Today we will get the Flash Manufacturing PMI, Flash Services PMI releases at 9:45 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, October 22

  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI

  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI

  • 10:00 a.m. U.S. – FOMC Member Daly Speech

  • Tentative, U.S. – Treasury Currency Report

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

This article was originally posted on FX Empire

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