Daily Gold News: Wednesday, September 14 – Gold Price Fell on Inflation Release

Gold Price Recap

The gold futures contract lost 1.33% on Tuesday, September 13, as it retraced its recent advances following higher-than-expected Consumer Inflation number release. On Monday it extended an advance on news about Russia-Ukraine war, weaker U.S. dollar, among other factors. Last week on Wednesday it bounced from the $1,700 price level. This morning the yellow metal is trading closer to the $1,700 level again, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.1% higher this morning, as it is trading along its yesterday’s closing price. What about the other precious metals? Silver is 0.9% higher, platinum is 1.8% higher and palladium is 0.4% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Yesterday’s important Consumer Price Index release has been higher than expected at +0.1% m/m and the Core CPI number has been also higher than expected at +0.6% m/m. Today we will get the Producer Price Index release at 8:30 a.m.

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

Wednesday, September 14

• 2:00 a.m. U.K. – CPI y/y, Core CPI y/y
• 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
• 9:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, September 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index, Philly Fed Manufacturing Index, Unemployment Claims, 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
• 10:00 p.m. China – Retail Sales y/y

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

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