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Daily Gold News: Friday, Feb. 26 – Gold at New Low and Closer to $1,750

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Paul Rejczak
·2 min read
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The gold futures contract lost 1.25% on Thursday, as it retraced all of its 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. This morning gold is trading at new local low, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.6% lower this morning, as it is trading closer to $1,750 price level. What about the other precious metals? Silver is 2.8% lower, platinum is 2.3% lower and palladium is 2.4% lower today. So precious metals are lower again this morning.

Yesterday’s Preliminary GDP release has been slightly worse than expected at +4.1% and Unemployment Claims number has been better than expected at 730,000.

Today we will get Personal Income/ Personal Spending numbers, Chicago PMI , Consumer Sentiment releases, among others.

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

Friday, February 26

  • 8:30 a.m. U.S. – Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m, Goods Trade Balance, Preliminary Wholesale Inventories m/m

  • 9:45 a.m. U.S. – Chicago PMI

  • 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations

  • All Day – G20 Meetings

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.
* * * * *

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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