Daily Gold News: Monday, Nov. 1 – Gold Is Still Close to $1,800

The gold futures contract lost 1.04% on Friday, Oct. 29, as it traded below $1,800 price level following the U.S. inflation data (Core PCE Price Index) release. The data was as expected at +0.2% and the U.S. dollar was strenghtening. In the previous week, gold was the highest since Sep. 7 following weakening U.S. dollar, among other factors. And this morning the yellow metal is trading along its Friday’s daily closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Right now gold is 0.1% higher, as it is still trading below the $1,800 level. What about the other precious metals? Silver is 0.2% lower, platinum is 1.3% higher and palladium is 0.8% lower. So precious metals’ prices are mixed this morning.

Today we will get the ISM Manufacturing PMI release at 10:00 a.m. The markets will be waiting for the Wednesday’s FOMC Monetary Policy update and Friday’s monthly jobs data release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, November 1

  • 10:00 a.m. U.S. – ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
  • 10:45 a.m. U.S. – Final Manufacturing PMI
  • 11:30 p.m. Australia – Cash Rate, RBA Rate Statement
  • All Day, Eurozone – French Bank Holiday, Italian Bank Holiday

Tuesday, November 2

  • All Day, Japan – Bank Holiday

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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