Daily Gold News: Thursday, September 1 – Gold Price Gets Closer to $1,700
Gold Price Recap
The gold futures contract lost 0.58% on Wednesday, August 31, as it further extended its downtrend following Tuesday’s decline of 0.8%. On Friday it retraced its earlier advances after a speech from the Fed Chair Powell at the Jackson Hole Symposium, and this week it is extending the downtrend. This morning yellow metal is trading closer to the $1,700 price level, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Yesterday’s ADP Non-Farm Employment Change release has been lower than expected at 132,000, and the Chicago PMI release has been as expected at 52.5. Today we will get the ISM Manufacturing PMI release at 10:00 a.m., among others. Investors will be waiting for tomorrow’s monthly jobs data release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Thursday, September 1
- 8:30 a.m. U.S. – Unemployment Claims, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q
- 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
- All Day, U.S. – Wards Total Vehicle Sales
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
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.