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Daily Gold News: Monday, Dec. 13 – Gold Extends Consolidation

December 13, 2021 (Investorideas.com Newswire) The gold futures contract gained 0.46% on Friday, as it retraced its Thursday’s loss of 0.5%. The market continues to fluctuate following the late November decline and a breakdown below the $1,800 level. It sold off in a reaction to strengthening U.S. dollar and volatile stock prices, among other factors. This morning gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.3% higher this morning, as it gets closer to the $1,800 level again. What about the other precious metals? Silver is 0.1% higher, platinum is 0.3% lower and palladium is 0.8% lower. So precious metals’ prices are mixed this morning.

Friday’s Consumer Price Index release has been slightly higher than expected at +0.8% m/m. Today we won’t get any new important economic data announcements. The markets will be waiting for series of data releases on Tuesday and on Wednesday, including the important Wednesday’s FOMC Statement release.

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

Monday, December 13

12:00 p.m. U.K. – Bank Stress Test Results
12:30 p.m. U.K. – BOE Governor Bailey Speech
All Day – G7 Meetings

Tuesday, December 14

6:00 a.m. U.S. – NFIB Small Business Index
8:30 a.m. U.S. – PPI m/m, Core PPI m/m

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
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