Daily Gold News: Wednesday, August 31 – Gold Gets Closer to $1,700 Price Level
Gold Price Recap
The gold futures contract lost 0.77% on Tuesday, August 30, as it traded within its Monday’s daily range. On Friday it retraced its earlier advances following a speech from the Fed Chair Powell at the Jackson Hole Symposium. This morning yellow metal is extending the downtrend, as it is trading the lowest since late July, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Yesterday’s CB Consumer Confidence and JOLTS Job Openings releases have been higher than expected. Today we will get the important ADP Non-Farm Employment Change release at 8:15 a.m. There will also be the Chicago PMI release at 9:45 a.m. Investors will be waiting for the Thursday’s ISM Manufacturing PMI and Friday’s monthly jobs data releases.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Wednesday, August 31
- 5:00 a.m. Eurozone – CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
- 8:00 a.m. U.S. – FOMC Member Mester Speech
- 8:15 a.m. U.S. – ADP Non-Farm Employment Change
- 9:45 a.m. U.S. – Chicago PMI
- 9:45 p.m. China – Caixin Manufacturing PMI
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
Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
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