Gold price pulled back after Trump’s announcement; jobs data in focus.
The gold futures contract lost 1.41% on Thursday, April 3, as it pulled back following Trump’s tarrif announcement. The market retreated from its Wednesday’s new record high of 3,201.60. Gold kept advancing amid geopolitics including tariff fears, stock market’s uncertainty and a weak U.S. dollar.
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 rebounding, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.9% higher, as it is trading along the $3,150 level (new series of the futures contract). What about the other precious metals? Silver is 1.5% lower, platinum is 1.2% lower and palladium is 1.3% lower. So, the main precious metals’ prices are mixed this morning.
Today, we will get the important monthly jobs data at 8:30 a.m., and the Fed Chair Powell speech at 11:25 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Friday, April 4
- 8:30 a.m. U.S. - Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 11:25 a.m. U.S. - Fed Chair Powell Speech
- 12:00 p.m. U.S. - FOMC Member Barr Speech
- 12:45 p.m. U.S. - FOMC Member Waller Speech
Monday, April 7
- 3:00 p.m. U.S. - Consumer Credit m/m
Paul Rejczak
Stock Trading Strategist