Daily Gold News: Thursday, Jan. 6 – Gold Price Continues to Fluctuate Along $1,800

The gold futures contract gained 0.58% on Wednesday after gaining 0.8% on Tuesday. The market retraced almost all of its Monday’s sell-off, as it bounced from the $1,800 level again. On Monday gold reached the new local high of $1,833 before selling off. This morning the yellow metal is trading lower again following stock markets’ declines, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% lower this morning, as it is trading along the $1,800 level again. What about the other precious metals? Silver is 2.4% lower, platinum is 0.9% lower and palladium is 0.4% higher. So the main precious metals’ prices are lower this morning.

Yesterday’s U.S. important ADP Non-Farm Employment Change release has been much better than expected at +807,000. But the stock markets sold off following the FOMC Meeting Minutes release. Today we will get the Unemployment Claims and ISM Services PMI releases, among others. Investors will be waiting for tomorrow’s monthly jobs data announcement.

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

Thursday, January 6

• 8:30 a.m. U.S. – Unemployment Claims, Trade Balance
• 10:00 a.m. U.S. – ISM Services PMI, Factory Orders m/m

Friday, January 7

• 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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