Daily Gold News: Wednesday, Feb. 24 – Golds Short-Term Uncertainty

The gold futures contract lost 0.14% on Tuesday, as it fluctuated following Monday‘s rebound of 1.7%. Last week it broke below the previous local low and $1,800 price level. The market gave back all of December’s advance. Today gold is extending a short-term consolidation, as we can see on the daily chart ( the chart includes todays intraday data):

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Gold is 0.1% higher this morning, as it is trading along yesterdays daily close. What about the other precious metals？ Silver is 0.6% higher, platinum is 2.1% higher and palladium is 1.4% higher today. So precious metals are higher this morning.

Yesterday‘s Consumer Confidence release has been slightly better than expected at 91.3. This morning we will have the Fed Chair Powell’s testimonyand some more Fed-talk later in the day.

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

Wednesday, February 24

• 10:00 a.m. U.S. – Fed Chair Powell Testimony, New Home Sales

• 10:30 a.m. U.S. – FOMC Member Brainard Speech

• 1:00 p.m. U.S. – FOMC Member Clarida Speech

• 4:00 p.m. U.S. – FOMC Member Clarida Speech

Thursday, February 25

• 8:30 a.m. U.S. – Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims, Preliminary GDP Price Index q/q, FOMC Member Bostic Speech

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

• 11:10 a.m. U.S. – FOMC Member Quarles Speech

• 12:00 a.m. U.S. – FOMC Member Bostic Speech

For a look at all of todays 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.

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