The gold futures contract has extended its sell-off yesterday before bouncing from new short-term low of $1,874.20 and retracing some of the decline. The market fell 10.3% off its last Friday's new record high price level of $2,089.20. Gold reversed sharply lower following Friday's Nonfarm Payrolls release, among other factors. For now, yesterday's bounce looks like an upward correction, as we can see on the daily chart:

Gold is 1.2% higher this morning, as it is trading along $1,950 price level. What about the other precious metals? Silver lost 0.27% on Wednesday and today it is 4.2% higher. Platinum lost 1.26% and today it is 2.6% higher. Palladium lost 0.31% on Wednesday and today it's 1.0% higher. So precious metals are retracing some more of their recent decline this morning.

Yesterday's U.S. Consumer Price Index release has been bigger than expected at +0.6%. Just like Tuesday's Producer's inflation gauge. Today we will get the Unemployment Claims number at 8:30 a.m. And the markets will be waiting for tomorrow's Retail Sales release.

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

Thursday, August 13

• 8:30 a.m. U.S. - Unemployment Claims, Import Prices m/m
• 1:01 p.m. U.S. - 30-y Bond Auction
• 7:30 p.m. Australia - RBA Governor Lowe Speech
• 10:00 p.m. China - Fixed Asset Investment ytd/y, Industrial Production y/y, Retail Sales y/y, Unemployment Rate

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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Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.