Daily Gold News: Friday, Oct. 1 – Gold Rallied Back Above $1,750

The gold futures contract gained 1.98% on Thursday, as it retraced its recent declines after breaking below the $1,750 price level. The market followed a downward correction in U.S. dollar and falling stock prices. Gold is back above that $1,750 level again. This morning gold is trading along yesterday’s daily closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.2% lower, as it is trading slightly above $1,750 price mark. What about the other precious metals? Silver is 0.2% higher, platinum is 0.4% higher and palladium is 1.2% lower. So precious metals’ prices are slightly higher this morning.

Yesterday’s Final GDP and Chicago PMI releases have been basically as expected, but the Unemployment Claims release has been worse than expected at 362,000. Today we will get the important Core PCE Price Index release at 8:30 a.m. We will also have Personal Income/ Personal Spending, ISM Manufacturing PMI and UoM Consumer Sentiment releases this morning.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, October 1

  • 3:55 a.m. Eurozone – German Final Manufacturing PMI
  • 8:30 a.m. U.S. – Core PCE Price Index m/m, Personal Income m/m, Personal Spending m/m
  • 8:30 a.m. Canada – GDP m/m
  • 9:45 a.m. U.S. – Final Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI, Revised UoM Consumer Sentiment, Construction Spending m/m, ISM Manufacturing Prices, Revised UoM Inflation Expectations

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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