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Daily Gold News: Thursday, October 22 – Gold Continues Sideways

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The gold futures contract gained 0.74% on Wednesday, as it got closer to early October local high. Today yellow metal’s price is is getting back slightly lower again. Recently gold was retracing a rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance, among other factors. 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 0.4% lower this morning, as it is retracing some of yesterday’s advance. What about the other precious metals? Silver gained 1.04% on Wednesday and today it is 0.8% lower. Platinum gained 1.89% and today it is 0.1% lower. Palladium gained 0.41% on Wednesday and today it is 0.9% lower. So precious metals are slightly lower this morning.

Today we will get the Unemployment Claims release at 8:30 a.m. and the CB Leading Index along with Existing Home Sales at 10:00 a.m. The Unemployment Claims number is expected to increase to almost 900,000 for the last week.

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

Thursday, October 22

  • 8:30 a.m. U.S. – Unemployment Claims
  • 10:00 a.m. U.S. – CB Leading Index m/m, Existing Home Sales

Friday, October 23

  • 3:15 a.m. Eurozone – French Flash Manufacturing PMI, French Flash Services PMI
  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI

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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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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