Gold extends its record-breaking rally today, crossing $3,300 level for the first time.
The gold futures contract gained 0.44% on Tuesday, April 15, as it kept fluctuating after reaching a new record high 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 rallying to a new all-time high, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 2.3% higher, as it is trading above the $3,300 level. What about the other precious metals? Silver is 2.0% higher, platinum is 0.3% higher and palladium is 0.2% lower. So, the main precious metals’ prices are higher this morning.
Today, we will get the important Retail Sales number at 8:30, and a speech from the Fed Chair Powell at 1:30 p.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
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
Thursday, April 17
- 8:15 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - Unemployment Claims, Philly Fed Manufacturing Index, Building Permits, Housing Starts
- 8:45 a.m. Eurozone - ECB Press Conference
- 11:45 a.m. U.S. - FOMC Member Barr Speech
- All Day, Australia - Bank Holiday
Paul Rejczak
Stock Trading Strategist