Daily Gold News: Tuesday, Apr. 6Gold is 0.4% higher this morning, as it is trading above yesterday’s daily range. What about the other precious metals?
The gold futures contract gained 0.02% on Monday, as it fluctuated following last week’s Thursday’s-Friday’s rebound. The market has bounced from the support level marked by March 8 local low of $1,763.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is slightly extending its short-term rebound, as we can see on the daily chart (the chart includes today’s intraday data):
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Gold is 0.4% higher this morning, as it is trading above yesterday’s daily range. What about the other precious metals? Silver is 0.6% higher, platinum is 0.5% lower and palladium is 0.7% higher today. So precious metals are higher this morning.
Yesterday’s ISM Services PMI release has been better than expected at 63.7. Today we will get the JOLTS Job Openings release at 10:00 a.m.
Where would the price of gold go following Friday’s much-better-than-expected NFP release? We’ve compiled the data since September of 2018, a 31-month-long period of time that contains of thirty one NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. The last three cases are marked with dashed lines. Gold gained 2.54% in March and it lost 0.25% in February.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, April 6
- 12:30 a.m. Australia – RBA Rate Statement, Cash Rate
- 10:00 a.m. U.S. – JOLTS Job Openings
- All Day – IMF Meetings
Wednesday, April 7
- 8:30 a.m. U.S. – Trade Balance
- 9:00 a.m. U.S. – FOMC Member Evans Speech
- 12:00 p.m. U.S. – FOMC Member Barkin Speech
- 2:00 p.m. U.S. – FOMC Meeting Minutes
- All Day – IMF Meetings
For a look at all of today’s economic events, check out our economic calendar.
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