Daily Gold News: Friday, Feb. 4 – Gold Price Is Higher Ahead of Jobs Data Release

The gold futures contract lost 0.34% on Thursday, Feb. 3 following its Wednesday’s gain of 0.5%, as it continued to fluctuate along the $1,800 price level. Recently it reacted negatively to the strengthening U.S. dollar after last week’s Wednesday’s FOMC Statement release. Earlier, gold fluctuated along the $1,850 level after breaking above the previous short-term consolidation. This morning yellow metal is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.3% higher this morning, as it is trading above the $1,800 level. What about the other precious metals? Silver is 0.5% higher, platinum is 1.7% lower and palladium is 0.4% higher. So the main precious metals’ prices are higher this morning.

Yesterday’s ISM Services PMI release has been as expected at 59.9. Today we will get the important U.S. Nonfarm Payrolls and Unemployment Rate announcements at 8:30 a.m.

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

Friday, February 4

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

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

For a look at all of today’s economic events, check out our economic calendar.

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

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