Comex Gold

Daily Gold News: Thursday, Apr. 8 – Gold Extends Short-Term Advance

The gold futures contract lost 0.08% on Wednesday, as it fluctuated following its last week’s Thursday’s-Friday’s rebound. The market has bounced from the support level marked by March 8 local low of $1,763.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is slightly extending the advance, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.5% higher this morning, as it is trading above yesterday’s daily range. What about the other precious metals? Silver is 0.8% higher, platinum is 0.3% higher and palladium is 0.2% higher today. So precious metals are higher this morning.

Yesterday’s FOMC Meeting Minutes release has led to another stock market’s rally. But gold went sideways. Today we will get Unemployment Claims release and a speech from the Fed Chair Powell at 12:00 pm.

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

Thursday, April 8

  • 8:30 a.m. U.S. – Unemployment Claims
  • 12:00 p.m. U.S. – Fed Chair Powell Speech
  • All Day – IMF Meetings

Friday, April 9

  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate
  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m
  • All Day – IMF Meetings

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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