gold investment, silver investment


Daily Gold News: Monday, August 31 - Silver Extending Advance, Gold Unchanged

August 31, 2020, 8:11 AM Paul Rejczak

The gold futures contract gained 2.19% on Friday, as it got back to last week's short-term local high. Thursday's Fed Chair Powell speech led to an increased intraday volatility, as gold spiked higher before the decline. Gold reversed from its new record high of $2,089.20 on August 7 after much better than expected Nonfarm Payrolls release, among other factors. The following upward correction reached a local high of $2,024.60 on August 18.

Gold is 0.1% higher this morning, as it is trading along Friday's closing price. What about the other precious metals? Silver gained 2.83% on Friday and today it is 1.6% higher. Platinum gained 1.28% and today it is 0.7 % higher. Palladium gained 1.87% on Friday and today it's 0.9% higher. So precious metals are gaining this morning.

Friday's Personal Income, Personal Spending, Chicago PMI and Consumer Sentiment releases have been better than expected.

Today we won't get any important economic data announcements. The markets will be waiting for Friday's monthly jobs data release.

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

Monday, August 31

  • 9:00 a.m. U.S. - FOMC Member Clarida Speech
  • 9:45 p.m. China - Caixin Manufacturing PMI

Tuesday, September 1

  • 12:30 a.m. Australia - Cash Rate, RBA Rate Statement
  • 3:55 a.m. Eurozone - German Final Manufacturing PMI, German Unemployment Change
  • 9:30 a.m. Canada - Manufacturing PMI
  • 9:45 a.m. U.S. - Final Manufacturing PMI
  • 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
  • 9:30 p.m. Australia - GDP q/q

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.

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