Daily Gold News: Monday, August 8 – Gold Price is Close to $1,800 Again
Gold Price Recap
The gold futures contract lost 0.87% on Friday, August 5, as it retraced a big chunk of its Thursday’s rally of 1.7%. On Thursday it was the highest since early July on rallying stock markets, economic data releases, but Friday’s monthly jobs data announcement sent the price of gold lower. This morning gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Friday’s Nonfarm Payrolls release has been higher than expected at +528,000, but the Average Hourly Earnings release has also been higher than expected at +0.5% m/m. Today we won’t get any new important economic data releases. The market will be waiting for the Wednesday’s CPI number release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Monday, August 8
- No important economic data announcements
Tuesday, August 9
- 6:00 a.m. U.S. – NFIB Small Business Index
- 8:30 a.m. U.S. – Preliminary Nonfarm Productivity q/q, Preliminary Unit Labor Costs q/q
- Tentative, U.S. – IBD/TIPP Economic Optimism
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
* * * * *
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.