Daily Gold News: Wednesday, Apr. 14 – Gold’s Consolidation Despite Rallying Stocks, Cryptos

The gold futures contract gained 0.86% on Tuesday, as it fluctuated within a short-term consolidation despite rallying stock market, cryptocurrencies. The market has bounced from the support level marked by March 8 local low of $1,763.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading along yesterday’s daily close, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading within a relatively small daily range. What about the other precious metals? Silver is 0.04% higher, platinum is 1.9% higher and palladium is 0.2% lower today. So precious metals are mixed this morning.

Yesterday’s CPI release has been slightly higher than expected at +0.6%. Today the markets will be waiting for the Fed Chair Powell speech at 12:00 p.m.

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

Wednesday, April 14

• 10:00 a.m. Eurozone – ECB President Lagarde Speech
• 12:00 p.m. U.S. – Fed Chair Powell Speech
• 2:00 p.m. U.S. – Beige Book
• 2:30 p.m. U.S. – FOMC Member Williams Speech
• 3:45 p.m. U.S. – FOMC Member Clarida Speech
• 4:00 p.m. U.S. – FOMC Member Bostic Speech
• 9:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, April 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m , Philly Fed Manufacturing Index, Unemployment Claims
• 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
• 11:30 a.m. U.S. – FOMC Member Bostic Speech
• 2:00 p.m. U.S. – FOMC Member Daly Speech
• 10:00 p.m. China – GDP q/y

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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