Gold is reaching new record highs on weaker U.S. dolar, rallying stock markets.
The gold futures contract gained 0.14% on Monday, August 19, as it fluctuated following its Friday’s advance of 1.8%. Gold reached new record highs after breaking above the $2,500 level. Before Friday, it fluctuated along the $2,500 level, and on Friday, it rallied on weaker U.S. dollar, economic data. On the previous Monday, gold rebounded from a local low of $2,403.80.
This morning, gold is further extending its advances, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.7% higher, as it is trading along the $2,560 level. What about the other precious metals? Silver is 1.7% higher, platinum is 0.6% higher and palladium is 0.7% higher. So, the main precious metals’ prices are higher this morning.
Today, we won’t get any new important economic data. The markets will be waiting for tomorrow’s FOMC Meeting Minutes release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, August 20
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m, NHPI m/m
- 1:35 p.m. U.S. - FOMC Member Bostic Speech
- 2:45 p.m. U.S. - FOMC Member Barr Speech
Wednesday, August 21
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Paul Rejczak
Stock Trading Strategist