Daily Gold News: Monday, September 5 – Gold Price Going Sideways
Gold Price Recap
The gold futures contract gained 0.78% on Friday, September 2, as it retraced its Thursday’s decline of 1.0%. The market accelerated the intraday advance after monthly jobs data release.
Gold bounced from the Thursday’s local low of $1,699.10. This morning the yellow metal is trading along its Friday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):
Precious Metals Price Action
Gold is 0.1% higher this morning, as it is trading sideways and along the Friday’s closing price. What about the other precious metals? Silver is 0.9% higher, platinum is 1.2% higher and palladium is virtually flat. So the main precious metals’ prices are mixed this morning.
Fundamentals and Economic News Schedule
Friday’s Non-Farm Employment Change release has been higher than expected at 315,000 and the Unemployment Rate has also been higher than expected at 3.7%. The Average Hourly Earnings release has been slightly lower than expected at +0.3% m/m. Today we won’t get any new important economic data releases. The U.S. long holiday weekend will likely lead to a lower intraday volatility.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Monday, September 5
- All Day – OPEC-JMMC Meetings
- All Day, U.S. – Bank Holiday
- All Day, Canada – Bank Holiday
Tuesday, September 6
- 12:30 a.m. Australia – Cash Rate, RBA Rate Statement
- 9:45 a.m. U.S. – Final Services PMI
- 10:00 a.m. U.S. – ISM Services PMI
- 9:30 p.m. Australia – GDP q/q
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