The gold futures contract gained 1.76% on Thursday, as it broke above its short-term consolidation. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading higher again, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.8% higher this morning, as it is extending yesterday’s advance following better-than-expected economic data announcements, stocks and cryptos rally. What about the other precious metals? Silver is 1.3% higher, platinum is 0.4% higher and palladium is 0.7% higher today. So precious metals are higher this morning.
Yesterday’s important Retail Sales release has been much better than expected at +9.8%. Today we will get Building Permits/ Housing Starts and the UoM Consumer Sentiment releases.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, April 16
- 8:30 a.m. U.S. – Building Permits, Housing Starts
- 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
- All Day, Eurozone – ECOFIN Meetings, Eurogroup Meetings
For a look at all of today’s economic events, check out our economic calendar.
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Read More: Friday, Apr. 16 – Gold Breaking Higher