The gold futures contract gained 0.19% on Monday, as it remained close to short-term highs. The market bounced off following the recent decline after Thursday’s Fed Chair Powell speech. Gold reversed from its new record high of $2,089.20 on August 7 after much better than expected Nonfarm Payrolls release, among other factors. The following upward correction reached a local high of $2,024.60 on August 18. Since then gold has been fluctuating, as we can see on the daily chart:
Gold is 1.2% higher this morning, as it is extending the short-term advance. What about the other precious metals? Silver gained 2.89% on Monday and today it is 2.6% higher. Platinum lost 0.22% and today it is 2.7 % higher. Palladium gained 2.14% on Monday and today it’s 2.0% higher. So precious metals are gaining again this morning.
Yesterday we didn’t get any important economic data announcements. Today there will be U.S. ISM Manufacturing PMI release at 10:00 a.m. The financial markets will be waiting for 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:
Tuesday, September 1
- 12:30 a.m. Australia – Cash Rate, RBA Rate Statement
- 3:55 a.m. Eurozone – German Final Manufacturing PMI, German Unemployment Change
- 9:30 a.m. Canada – Manufacturing PMI
- 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
- 9:30 p.m. Australia – GDP q/q
Wednesday, September 2
- 8:15 a.m. U.S. – ADP Non-Farm Employment Change
- 10:00 a.m. U.S. – FOMC Member Williams Speech, Factory Orders m/m
- 12:00 a.m. U.S. – FOMC Member Mester Speech
- 2:00 p.m. U.S. – Beige Book
- 9:45 p.m. China – Caixin Services PMI
Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!
For a look at all of today’s economic events, check out our economic calendar.
Stock Selection 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.