Daily Gold News: Tuesday, Nov. 16 – Gold Is Higher Ahead of the Retail Sales Data Release

The gold futures contract lost 0.10% on Monday, as it continued to fluctuate within a short-term consolidation following the recent rally after breaking above the $1,800 level. It remained close to the local highs of around $1,870. Today the yellow metal is extending the advance, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% higher this morning, as it is trading along the new local high. What about the other precious metals? Silver is 0.8% higher, platinum is 1.2% higher and palladium is 0.8% higher. So precious metals’ prices are higher this morning.

Yesterday’s Empire State Manufacturing Index release has been better than expected at 30.9. Today we will get the important Retail Sales number release at 8:30 a.m. It is expected at +1.0% m/m. We will also get the Industrial Production, Business inventories releases and some Fed-talk later in the day.

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

Tuesday, November 16

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
• 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
• 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
• 12:00 p.m. U.S. – FOMC Member Barkin Speech, FOMC Member Bostic Speech
• 3:30 p.m. U.S. – FOMC Member Daly Speech

Wednesday, November 17

• 8:30 a.m. U.S. – Building Permits, Housing Starts
• 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m
• 9:10 a.m. U.S. – FOMC Member Williams Speech
• 11:00 a.m. U.S. – FOMC Member Bowman Speech
• 12:40 p.m. U.S. – FOMC Member Waller Speech, FOMC Member Daly Speech
• 4:05 p.m. U.S. – FOMC Member Evans Speech
• 4:10 p.m. U.S. – FOMC Member Bostic Speech

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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