Daily Gold News: Wednesday, Oct. 27 – Gold Is Slightly Below $1,800 Again
The gold futures contract lost 0.74% on Tuesday, as it continued to fluctuate following its Friday’s advance and a breakout above the $1,800 price level. On Friday, gold was the highest since Sep. 7 following weakening U.S. dollar and rising stock markets, among other factors. This morning gold is trading along its yesterday’s daily closing price, as we can see on the daily chart (the chart includes today’s intraday data):
Today gold is 0.2% lower, as it is still trading close to the $1,800 level. What about the other precious metals? Silver is 0.8% lower, platinum is 1.2% lower and palladium is 1.6% lower. So precious metals’ prices are lower this morning.
Yesterday’s CB Consumer Confidence release has been better than expected at 113.8 vs. a forecast of 108.4. Today we will get Durable Goods Orders, Trade Balance, Wholesale Inventories releases at 8:30 a.m. There will also be some Central Banks monetary policy releases today and tomorrow. And the markets will be waiting for tomorrow’s U.S. Advance GDP release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Wednesday, October 27
- 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m, Goods Trade Balance, Preliminary Wholesale Inventories m/m
- 10:00 a.m. Canada – BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
- 11:00 a.m. Canada – BOC Press Conference
- Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate, BOJ Press Conference
Thursday, October 28
- 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
- 8:30 a.m. Eurozone – ECB Press Conference
- 8:30 a.m. U.S. – Advance GDP q/q, Advance GDP Price Index q/q, Unemployment Claims
- 10:00 a.m. U.S. – Pending Home Sales m/m
For a look at all of today’s economic events, check out our economic calendar.
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