Daily Gold News: Monday, August 1 – Gold Price is Closer to $1,800 Again
Gold Price Recap
The gold futures contract gained 0.72% on Friday, July 29, as it extended its Thursday’s advance of 2.9%. On Thursday it broke above the recent trading range following Wednesday’s FOMC interest rate decision announcement and stock markets’ rally. Gold price acelerated its short-term uptrend after the previous week’s Thursday’s-Friday’s rebound from the new medium-term low of $1,678.40. This morning gold is trading higher again, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Friday’s Core PCE Price Index release has been slightly higher than expected at +0.6%. Today we will get the ISM Manufacturing PMI release at 10:00 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Monday, August 1
- 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
- Tentative, U.S. – Loan Officer Survey
- All Day, Canada – Bank Holiday
Tuesday, August 2
- 12:30 a.m. Australia – Cash Rate, RBA Rate Statement
- 10:00 a.m. U.S. – JOLTS Job Openings
- All Day, U.S. – Wards Total Vehicle Sales
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