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Daily Gold News: Wednesday, Oct. 20 – Gold’s Sideways Trend

·2-min read

The gold futures contract gained 0.27% on Tuesday, as it extended its consolidation following its Friday’s decline of 1.7%. Last week gold bounced from the $1,800 price level. The market reacted to the better-than-expected economic news releases. This morning gold is trading closer to yesterday’s daily high, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.7% higher, as it is trading within its yesterday’s daily price range. What about the other precious metals? Silver is 1.3% higher, platinum is 0.1% higher and palladium is 1.3% lower. So precious metals’ prices are higher this morning.

Yesterday’s Building Permits/ Housing Starts releases have been slightly worse than expected. Today we will have the Beige Book release at 2:00 p.m.

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

Wednesday, October 20

  • 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m

  • 12:00 p.m. U.S. – FOMC Member Evans Speech

  • 2:00 p.m. U.S. – Beige Book

Thursday, October 21

  • 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims

  • 10:00 a.m. U.S. – CB Leading Index m/m, Existing Home Sales

  • 3:00 p.m. Australia – RBA Governor Lowe 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.

* * * * *

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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