Gold price fluctuates along the $2,300 level, key economic data in focus.
The gold futures contract lost 0.28% on Thursday, April 4, as it retreated slightly from a new record high of $2,324.80. The market reacted to the stock market’s sell-off, among other factors. Gold paused following its two-week-long rally that started in late March after breaking above a short-term consolidation.
On February 14, gold was the lowest since mid-December, after breaking below local lows from January on the consumer inflation release. Since then, it gained over $300.
This morning gold is fluctuating along the $2,300 level, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price 0.2% higher, as it is trading above the $2,300 level after bouncing from a local low of around $2,286. What about the other precious metals? Silver is 1.3% lower, platinum is 1.1% lower and palladium is 1.1% lower. So, the main precious metals’ prices are mixed this morning.
Yesterday’s Unemployment Claims release has been higher than expected at 221,000. Today, we will get the important monthly jobs data 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).
Friday, April 5
- 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
- 9:15 a.m. U.S. - FOMC Member Barkin Speech
Monday, April 8
- No important economic data
Paul Rejczak
Stock Trading Strategist