The gold
futures gained 0.56% on Thursday, as it got closer to its recent local high of $1,568.80. The yellow metal closed above $1,560 mark for the first time since January 8 run-up followed by a sharp downward reversal. On Wednesday, it has bounced off $1,550 level. Overall, the market continues to trade within a short-term consolidation.
The gold price is currently 0.2% lower, as it is retracing some of yesterday’s advance. What about the other precious metals? The
silver was relatively weaker than gold, as it failed to break above the last week’s Friday’s local high. Yesterday it was unchanged and it remained below $18 mark. The
platinum is unchanged, as it is still trading above $1,000 mark, and the palladium hovers along the new record high (-0.1%).
Today, the financial markets are watching series of economic data releases from Europe. We will also have the important
Retail Sales number in Canada at 8:30 a.m. and the Flash Manufacturing PMI, Flash Services PMI numbers in the U.S. at 9:45 a.m.
Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too - it's free and if you don't like it, you can unsubscribe with just 2 clicks. If you sign up today, you'll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts.
Sign up for the free newsletter today!
Thank you.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
* * * * *
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.