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Daily Gold News: Friday, Jan. 22 – Gold Erasing Wednesday’s Advance

Paul Rejczak
·3-min read

The gold futures contract was virtually unchanged on Thursday, as it fluctuated following breaking above the recent trading range. The market gave back almost all of its December’s advance recently. On Wednesday gold retraced some of that decline and it broke above $1,850 price level. However, today the market is getting back lower again, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 1.6% lower this morning, as it is trading closer to its Wednesday’s low. What about the other precious metals? Silver gained 0.34% on Thursday and today it is 3.1% lower. Platinum gained 1.04% yesterday and today it is 3.8% lower. Palladium lost 1.17% and today it is 0.6% lower. So precious metals are lower this morning.

Yesterday’s Unemployment Claims release has been slightly better than expected at 900,000. Today the markets will wait for the U.S. Flash Manufacturing PMI, Flash Services PMI releases.

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

Friday, January 22

  • 3:15 a.m. Eurozone – French Flash Services PMI, French Flash Manufacturing PMI

  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI

  • 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m

  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI

  • 10:00 a.m. U.S. – Existing Home Sales

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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