Home Gold News August 14 – More Uncertainty Following Gold’s Decline

August 14 – More Uncertainty Following Gold’s Decline

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The gold futures contract gained 1.10% on Thursday, as it retraced more of the short-term decline from last Friday’s high of $2,089.20. The market fell 10.3% off that new price record. Gold reversed sharply lower following last week’s Nonfarm Payrolls release, among other factors. Wednesday’s-Thursday’s bounce looks like an upward correction, as we can see on the daily chart:

Gold is 0.3% lower this morning, as it continues to trade along $1,950 price level. What about the other precious metals? Silver gained 6.69% on Thursday and today it is 2.6% lower. Platinum gained 2.48% and today it is 0.7% lower. Palladium gained 2.24% on Thursday and today it’s 0.2% higher. So precious metals are mixed this morning.
Yesterday’s weekly U.S. Unemployment Claims release has been better than expected at less than one million. Today we will get the important Retail Sales release. We will also get the Industrial Production number at 9:15 a.m., then the Consumer Sentiment and Business inventories at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, August 14

5:00 a.m. Eurozone – Flash GDP q/q, Flash Employment Change q/q, Trade Balance
8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Preliminary Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q
9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Business Inventories m/m, Preliminary UoM Inflation Expectations

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For a look at all of today’s economic events, check out our economic calendar.
Paul RejczakStock Selection StrategistSunshine 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.
 



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