Gold is trading along previous highs; Nonfarm Payrolls data in focus.
The gold futures contract lost 0.17% on Thursday, July 4, following its Wednesday’s gain of 1.54%, as it fluctuated after the recent advance. On Wednesday, gold broke above its previous trading range and the $2,350 level. Before the rebound, it was declining towards the early June lows. On previous week, the market dipped, before extending declines. Overall, gold is still fluctuating within a consolidation following a retreat from its May 20 record high of $2,454.20.
This morning, gold is gaining ahead of the important data, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.3% higher, as it is trading along the $2,370 level. What about the other precious metals? Silver is 0.6% higher, platinum is 1.0% lower and palladium is 1.4% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the important monthly jobs data release 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, July 5
- 5:40 a.m. U.S. - FOMC Member Williams Speech
- 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
- 10:00 a.m. Canada - Ivey PMI
- 11:00 a.m. U.S. - Fed Monetary Policy Report
- 1:15 p.m. Eurozone - ECB President Lagarde Speech
Monday, July 8
- 3:00 p.m. U.S. - Consumer Credit m/m
Paul Rejczak
Stock Trading Strategist