Gold is reaching new records; Core PCE Price Index announcement in focus.
The gold futures contract gained 1.20% on Thursday, March 27, as it extended its record-breaking rally, reaching the $3,100 level. Gold kept rallying 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 reaching yet another new all-time high, 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 above the $3,100 level (new series of the futures contract). What about the other precious metals? Silver is 0.8% higher, platinum is 0.1% lower and palladium is 0.7% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the important Core PCE Price Index release at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Friday, March 28
- 3:00 a.m. U.K. - Retail Sales m/m
- 4:00 a.m. Eurozone - Spanish Flash CPI y/y
- 8:30 a.m. U.S. - Core PCE Price Index m/m, Personal Income m/m, Personal Spending m/m
- 8:30 a.m. Canada - GDP m/m
- 10:00 a.m. U.S - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- 12:15 p.m. U.S. - FOMC Member Barr Speech
- 3:45 p.m. U.S. - FOMC Member Bostic Speech
Monday, March 31
- 9:45 a.m. U.S. - Chicago PMI
- 11:30 p.m. Australia - Cash Rate, RBA Rate Statement
- All Day, Eurozone - German Preliminary CPI m/m
Paul Rejczak
Stock Trading Strategist