Gold price is volatile after a long holiday weekend, but it’s still close to the $1,750 level.
The gold futures contract gained 0.48% on Friday, November 25, as it traded within a short-term consolidation following its Wednesday’s rebound from the local low of $1,719. On November 15 gold price reached medium-term high of $1,791.80. The yellow metal reversed lower and last week it has been retracing some of the advance. This morning gold price is trading along its Friday’s closing price after bouncing from the daily high of around $1,770, as we can see on the daily chart (the chart includes today’s intraday data):
Today, gold price is 0.1 % higher, as it is still trading above the $1,750 level. What about the other precious metals? Silver is 0.2% lower, platinum is 1.1% higher and palladium is 0.8% lower. So the main precious metals’ prices are mixed this morning.
Today we won’t get any new important economic data releases. There will be some speeches from the FOMC Members later in the day. The markets will be waiting for Friday’s monthly jobs data, among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Monday, November 28
- 9:00 a.m. Eurozone - ECB President Lagarde Speech
- 12:00 a.m. U.S. - FOMC Member Bullard Speech, FOMC Member Williams Speech
Tuesday, November 29
- 8:30 a.m. Canada - GDP m/m
- 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
- 10:00 a.m. U.S. - CB Consumer Confidence
Paul Rejczak
Stock Trading Strategist