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Daily Gold News: Friday, September 2 – Gold Price Bounces From the $1,700 Level

By:
Paul Rejczak
Published: Sep 2, 2022, 11:44 UTC

Today we will get the important Non-Farm Employment Change along with the Unemployment Rate and Average Hourly Earnings releases at 8:30 a.m.

Gold FX Empire

In this article:

Gold Price Recap

The gold futures contract lost 0.98% on Thursday. September 1, as it further extended its short-term downtrend on strengthening U.S. dollar and a sell-off in stocks. Last week on Friday it retraced its earlier advances after a speech from the Fed Chair Powell at the Jackson Hole Symposium. And this morning yellow metal is bouncing from the $1,700 price level, as we can see on the daily chart (the chart includes today’s intraday data):

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Precious Metals Price Action

Gold is 0.5% higher this morning, as it is trading above the $1,700 price level. What about the other precious metals? Silver is 0.6% higher, platinum is 0.9% higher and palladium is 1.6% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s ISM Manufacturing PMI release has been higher than expected at 52.8 and the Unemployment Claims has been lower than expected at 232,000. Today we will get the important Non-Farm Employment Change along with the Unemployment Rate and Average Hourly Earnings releases at 8:30 a.m.

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

Friday, September 2

  • 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
  • 10:00 a.m. U.S. – Factory Orders m/m

Monday, September 5

  • All Day – OPEC-JMMC Meetings
  • All Day, U.S. – Bank Holiday
  • All Day, Canada – Bank Holiday

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

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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.

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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