Daily Gold News: Friday, Apr. 9 – Gold’s Downward Correction, Below $1,750 Again

Paul Rejczak
·2 min read

The gold futures contract gained 0.95% on Thursday, as it extended its last week’s Thursday’s-Friday’s rebound. The market has bounced from the support level marked by March 8 local low of $1,763.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is retracing yesterday’s advance, 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 within yesterday’s daily range. What about the other precious metals? Silver is 0.9% lower, platinum is 1.6% lower and palladium is 0.3% lower today. So precious metals are lower this morning.

Yesterday’s Unemployment Claims release has been worse than expected at 744,000. Today we will get the Producer Price Index release at 8:30 a.m.

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

Friday, April 9

  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m

  • 8:30 a.m. Canada – Employment Change, Unemployment Rate

  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m

  • All Day – IMF 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.

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This article was originally posted on FX Empire

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