Gold is extending its rebound; consumer inflation data in focus.
The gold futures contract gained 2.98% on Wednesday, April 9, as it rebounded on news about Trump’s tariff delay. It moved back above the $3,100 level. Recently, gold kept moving lower on continued stock market weakness caused by last Wednesday’s tarrif announcement. The market retreated from its new record high of 3,201.60, and on Monday, it traded as low as $2,970.40.
On November 14, gold was the lowest since mid-September after dropping in a reaction to the presidential elections. Gold extended its decline from the late October high, reaching a local low of $2,541.50.
This morning, gold is extending its rebound, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 1.7% higher, as it is trading along the $3,130 level. What about the other precious metals? Silver is 0.9% higher, platinum is 0.3% lower and palladium is 1.7% lower. So, the main precious metals’ prices are higher this morning.
Today, we will get the key Consumer Price Index release at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Thursday, April 10
- 6:00 a.m. Australia - RBA Governor Bullock Speech
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y, Unemployment Claims
- 9:30 a.m. U.S. - FOMC Member Logan Speech
- 10:00 a.m. U.S. - FOMC Member Bowman Speech
- 12:00 p.m. U.S. - FOMC Member Goolsbee Speech, FOMC Member Harker Speech
- 1:01 p.m. U.S. - 30-y Bond Auction
- 2:00 p.m. U.S. - Federal Budget Balance
Friday, April 11
- 2:00 a.m. U.K. - GDP m/m
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations, FOMC Member Musalem Speech
- 11:00 a.m. U.S. - FOMC Member Williams Speech
- All Day, Eurozone - Eurogroup Meetings
Paul Rejczak
Stock Trading Strategist