Daily Gold News: Monday, October 26 – Still Not Much Happening -

The gold futures contract gained 0.03% on Friday, as it continued to trade within a consolidation following bouncing off $1,900 price level again. In September the market was retracing its rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance. Then gold has bounced from the support level marked by mid-August local low of around $1,875, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% higher this morning, as it remains within a mentioned consolidation after bouncing off $1,900 level. What about the other precious metals? Silver lost 0.14% on Friday and today it is 1.3% lower. Platinum gained 2.57% and today it is 1.8% lower. Palladium gained 0.11% on Friday and today it is 0.8% lower. So precious metals are lower this morning , as they further extend their consolidation.

Friday’s U.S. Flash Manufacturing PMI/ Flash Services PMI releases have been mixed with the Services number exceeding expectations. Today we will get the New Home Sales data at 10:00 a.m. The markets will await tomorrow’s Consumer Confidence release and Thursday’s important Advance GDP number release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Monday, October 26

  • 5:00 a.m. Eurozone – German ifo Business Climate
  • 10:00 a.m. U.S. – New Home Sales

Tuesday, October 27

  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m
  • 10:00 a.m. U.S. – CB Consumer Confidence, Richmond Manufacturing Index
  • 8:30 p.m. Australia – CPI q/q

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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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


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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