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Daily Gold News: Wednesday, Dec. 1 – Gold Keeps Trading Below $1,800

By:
Paul Rejczak
Published: Dec 1, 2021, 12:52 UTC

Gold is 0.6% higher this morning, as it trading around 1% below the $1,800 price level. What about the other precious metals?

Daily Gold News: Wednesday, Dec. 1 – Gold Keeps Trading Below $1,800

In this article:

The gold futures contract lost 0.49% on Tuesday, as it broke slightly below its recent local lows following the Fed Chair Powell’s Testimony. Recently gold price was fluctuating after breaking down below the $1,800 level. The market sold off in a reaction to strengthening U.S. dollar and volatile stock prices, among other factors. This morning gold is bouncing back closer to the $1,800 level, as we can see on the daily chart (the chart includes today’s intraday data):

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Gold is 0.6% higher this morning, as it trading around 1% below the $1,800 price level. What about the other precious metals? Silver is 0.1% higher, platinum is 1.7% higher and palladium is 1.8% higher. So precious metals’ prices are higher this morning.

Yesterday’s CB Consumer Confidence release has been slightly worse than expected at 109.5 and the Chicago PMI release has been worse than expected at 61.8. Today we will get the important ADP Non-Farm Employment Change, ISM Manufacturing PMI releases and testimonies from the Fed Chair Powell and the Treasury Secretary Yellen. We will also have the Beige Book release later in the day.

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

Wednesday, December 1

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 9:00 a.m. U.K. – BOE Governor Bailey Speech
  • 9:45 a.m. U.S. – Final Manufacturing PMI
  • 10:00 a.m. U.S. – Fed Chair Powell Testimony, ISM Manufacturing PMI, Treasury Secretary Yellen Speech, Construction Spending m/m, ISM Manufacturing Prices
  • 2:00 p.m. U.S. – Beige Book

Thursday, December 2

  • 7:30 a.m. U.S. – Challenger Job Cuts y/y
  • 8:30 a.m. U.S. – Unemployment Claims, FOMC Member Bostic Speech
  • 9:00 a.m. U.S. – Treasury Secretary Yellen Speech
  • 11:00 a.m. U.S. – FOMC Member Quarles Speech
  • 11:30 a.m. U.S. – FOMC Member Barkin Speech, FOMC Member Bostic Speech, FOMC Member Daly Speech
  • All Day – OPEC-JMMC Meetings

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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About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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