The gold futures contract gained 0.60% on Wedsnesday, as it continued to fluctuate within a short-term consolidation following last week's decline. The market bounced off $2,000 resistance level. On Friday the intraday volatility has been relatively low despite monthly jobs data release. And the stock market's rout didn't trigger any significant move in gold recently. Gold price is trading within a month-long consolidation, as we can see on the daily chart:
Gold is 0.1% higher this morning, as it is trading along yesterday's closing price. What about the other precious metals? Silver gained 0.34% on Wednesday and today it is 0.5% higher. Platinum gained 1.60% and today it is 0.2% lower. Palladium gained 0.54% on Wednesday and today it's 0.6% lower. So precious metals are mixed this morning.
Yesterday's JOLTS Job Openings release has been better than expected at 6.62 million. Today we will get theECBMonetary Policy Statement at 7:45 a.m. and the ECB Press Conference at 8:30 a.m. We will also get the U.S. Producer Price Index along with the Unemployment Claims releases at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, September 10
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. Eurozone - ECB Press Conference
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 10:00 a.m. U.S. - Final Wholesale Inventories m/m
- 12:30 a.m. Canada - BOC Governor Macklem Speech
- 1:00 p.m. Eurozone - ECB President Lagarde Speech
Friday, September 11
- 4:00 a.m. Eurozone - German Buba President Weidmann Speech
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 2:00 p.m. U.S. - Federal Budget Balance
- All Day, Eurozone - Eurogroup Meetings
Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
