Daily Gold Update: Tuesday, November 15 – Gold Reached New Medium-Term High

Gold Price Recap

The gold futures contract gained 0.42% on Monday, November 14, as it further extended its recent advances on weakening U.S. dollar, rallying stock markets. Last week on Thursday gold rallied following lower-than-expected Consumer Price Index release. This morning it’s trading sideways after reaching new medium-term high, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Today, gold is 0.2% higher, as it is trading above the $1,770 price level. What about the other precious metals? Silver is 0.5% lower, platinum is 0.5% higher and palladium is 1.8% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Today we will get the important Producer 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.

Tuesday, November 15

• 5:00 a.m. U.K. – German ZEW Economic Sentiment
• 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Empire State Manufacturing Index
• 9:00 a.m. U.S. – FOMC Member Cook Speech
• 10:00 a.m. U.S. – FOMC Member Barr Speech
• All Day – G20 Meetings

Wednesday, November 16

• 2:00 a.m. U.K. – CPI y/y, Core CPI y/y
• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
• 8:30 a.m. Canada – CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
• 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
• 9:15 a.m. U.K. – Monetary Policy Report Hearings
• 9:50 a.m. U.S. – FOMC Member Williams Speech
• 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index, FOMC Member Barr Speech
• 10:00 a.m. Eurozone – ECB President Lagarde Speech
• 2:35 p.m. U.S. – FOMC Member Waller Speech
• 7:30 p.m. Australia – Employment Change, Unemployment Rate
• Tentative, Eurozone – ECB Financial Stability Review
• All Day – G20 Meetings

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

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