Daily Gold News: Tuesday, Oct. 5 – Gold Price Closer to $,1750 Again

The gold futures contract gained 0.52% on Monday, as it extended its short-term advance over the $1,750 price level. The market got back above that level following a downward correction in U.S. dollar and falling stock prices. This morning gold is retracing some of the recent advance, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.8% lower, as it is getting closer to the $1,750 level again. What about the other precious metals? Silver is 0.9% lower, platinum is 1.2% lower and palladium is unchanged. So precious metals’ prices are lower this morning.

Yesterday’s Factory Orders release has been slightly better than expected at +1.2%. Today we will get the ISM Services PMI release at 10:00 a.m., among others.

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

Tuesday, October 5

• 8:30 a.m. U.S. – Trade Balance
• 10:00 a.m. U.S. – ISM Services PMI, IBD/TIPP Economic Optimism
• 11:00 a.m. Eurozone – ECB President Lagarde Speech
• 1:15 p.m. U.S. – FOMC Member Quarles Speech
• Tentative, Japan – BOJ Governor Kuroda Speech
• All Day, Eurozone – ECOFIN Meetings
• All Day, China – Bank Holiday

Wednesday, October 6

• 8:15 a.m. U.S – ADP Non-Farm Employment Change
• 9:00 a.m. U.S. – FOMC Member Bostic Speech
• 11:30 a.m. U.S. – FOMC Member Bostic Speech
• All Day, China – Bank Holiday

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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