Daily Gold Update: Friday, September 30 – Gold’s Short-Term Consolidation
Gold Price Forecast
The gold futures contract lost 0.08% on Thursday, September 29, as it went sideways following its Wednesday’s rebound of 2.1%. On Wednesday the market got back above the $1,650 price level after reaching new medium-term low of $1,622.20. It was the lowest since Spring of 2020. This morning gold extended its short-term uptrend, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Yesterday’s Unemployment Claims release has been lower than expected at 193,000. Today we will get the important Core PCE Price Index release at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Friday, September 30
- 5:00 a.m. Eurozone – CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
- 8:30 a.m. U.S. – Core PCE Price Index m/m, Personal Income m/m, Personal Spending m/m
- 9:00 a.m. U.S. – FOMC Member Brainard Speech
- 9:45 a.m. U.S. – Chicago PMI
- 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- 11:00 a.m. U.S. – FOMC Member Bowman Speech
- 4:15 p.m. U.S. – FOMC Member Williams Speech
- All Day, Canada – Bank Holiday
Monday, October 3
- 9:45 a.m. U.S. – Final Manufacturing PMI
- 10:00 a.m. U.S. – ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
- 11:30 p.m. Australia – Cash Rate, RBA Rate Statement
- All Day, Eurozone – German Bank Holiday
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