FXEMPIRE
All
Ad
Advertisement
Advertisement
Paul Rejczak
Add to Bookmarks

The gold futures contract lost 0.44% on Tuesday, as it traded within a short-term consolidation following Friday’s retreat. On Thursday, the market broke above its July 15 high of $1,835 and it gained 2%. Then on Friday it has lost around 1%. Precious metals’ prices followed weakening U.S. dollar. This morning gold is trading sideways, as we can see on the daily chart (the chart includes today’s intraday data):

Advertisement
Know where Gold is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Today gold is 0.2% higher, as it continues to trade above $1,800 mark. What about the other precious metals? Silver is 0.6% higher, platinum is 0.4% lower and palladium is 0.7% higher. So precious metals’ prices are mixed this morning.

Yesterday’s Factory Orders release has been better than expected at +1.5%. Today we will get the ADP Non-Farm Employment Change and ISM Services PMI releases, among others.

The markets are waiting for the monthly jobs data release on Friday.

Where would the price of gold go following Friday’s Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 35-month-long period of time that contains of thirty five 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 1.45% in July and in June it lost 6.50%.

The following chart shows the average gold price path before and after the NFP releases for the past 35 months. The market was usually advancing ahead of the release day and closing 0.38% higher on the 10th day after the NFP release.

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

Wednesday, August 4

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI, FOMC Member Clarida Speech

Thursday, August 5

  • 7:00 a.m. U.K. – BOE Monetary Policy Report, Monetary Policy Summary, Official Bank Rate
  • 7:30 a.m. U.S. – Challenger Job Cuts y/y
  • 8:30 a.m. U.S. – Unemployment Claims, Trade Balance
  • 10:00 a.m. U.S. – FOMC Member Waller Speech
  • 7:00 p.m. Australia – RBA Governor Lowe Speech
  • 9:30 p.m. Australia – RBA Monetary Policy Statement

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.

* * * * *

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.

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker