The gold futures contract gained 0.21% on Thursday, as it still fluctuated within a short-term consolidation following its last Friday’s advance and a breakout above the $1,800 price level. Last week, gold was the highest since Sep. 7 following weakening U.S. dollar and rising stock markets, among other factors. This morning the yellow metal is trading close to the $1,800 price level again, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.3% lower, as it is trading slightly below the $1,800 level. What about the other precious metals? Silver is 0.5% lower, platinum is 0.4% higher and palladium is 0.2% lower. So precious metals’ prices are lower this morning.
Yesterday’s Advance GDP release has been worse than expected at +2.0% vs. a forecast of +2.6%, and the Unemployment Claims release has been better than expected at 281,000. Today we will get the Core PCE Price Index, Chicago PMI releases, among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, October 29
- 4:00 a.m. Eurozone – German Preliminary GDP q/q
- 8:30 a.m. U.S. – Core PCE Price Index m/m, Employment Cost Index q/q, Personal Income m/m, Personal Spending m/m
- 8:30 a.m. Canada – GDP m/m, IPPI m/m, RMPI m/m
- 9:45 a.m. U.S. – Chicago PMI
- 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- Tentative, U.S. – Treasury Currency Report
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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Disclaimer
All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
