Gold price remains near its Friday’s record; economic data, tariff news in focus.
The gold futures contract lost 0.56% on Monday, April 14, as it fluctuated after reaching a new record high of $3,263.00 on Friday. Last week, the market broke higher on continuing economic uncertainty, tariff developments, weakening U.S. dollar. Recently, it retreated from its previous high, and last 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 a consolidation, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.4% higher, as it is trading along the $3,240 level. What about the other precious metals? Silver is 0.3% higher, platinum is 1.3% higher and palladium is 0.1% lower. So, the main precious metals’ prices are higher this morning.
Today, we will get the Empire State Manufacturing Index release at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, April 15
- 2:00 a.m. U.K. - Claimant Count Change
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 8:30 a.m. U.S. - Empire State Manufacturing Index, Import Prices m/m
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
- 7:10 p.m. U.S. - FOMC Member Cook Speech
- 10:00 p.m. China - GDP q/y, Industrial Production y/y, Retail Sales y/y
Wednesday, April 16
- 2:00 a.m. U.K. - CPI y/y
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
- 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
- 9:45 a.m. Canada - BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
- 10:00 a.m. U.S. - Business Inventories m/m, NAHB Housing Market Index
- 10:30 a.m. Canada - BOC Press Conference
- 12:00 p.m. U.S. - FOMC Member Hammack Speech
- 1:30 p.m. U.S. - Fed Chair Powell Speech
- 4:00 p.m. U.S. - TIC Long-Term Purchases
- 7:00 p.m. U.S. - FOMC Member Schmid Speech
- 9:30 p.m. Australia - Employment Change, Unemployment Rate
Paul Rejczak
Stock Trading Strategist