Daily Gold News: Precious Metals Fluctuate Following Recent GainsThe gold futures contract gained 0.48% on Thursday, as it extended Wednesday’s advance of 0.6%.
The gold futures contract gained 0.48% on Thursday, as it extended Wednesday’s advance of 0.6%. The market has retraced most of the recent decline from September 1 local high of $2,001.20. On Friday 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. Gold price is trading within a month-long consolidation, as we can see on the daily chart:
Gold is 0.1% lower this morning, as it is trading along yesterday’s closing price. What about the other precious metals? Silver gained 0.77% on Thursday and today it is 0.3% lower. Platinum gained 1.74% and today it is 0.4% higher. Palladium gained 0.55% on Thursday and today it’s 0.1% lower. So precious metals are slightly retracing their yesterday’s advances this morning.
Yesterday’s U.S. Producer Price Index release has been slightly higher than expected, and the Unemployment Claims have been at 884,000 vs. the expected number of 838,000. Today we will get the Consumer Price Index release at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, September 4
- 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
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For a look at all of today’s economic events, check out our economic calendar.
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