Gold is extending its short-term uptrend, approaching the $2,675 level.
The gold futures contract gained 0.79% on Wednesday, November 20, as it further extended its short-term uptrend following breaking above the $2,650 level. Last Thursday, gold was the lowest since mid-September after dropping in a reaction to the presidential elections the previous week. Gold extended its decline from the October 29 record high of $2,801.80, reaching a local low of $2,541.50. In October, the yellow metal kept gaining amid strengthening U.S. dollar, geopolitical tensions, among others.
This morning, gold is higher again, 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 $2,670 level. What about the other precious metals? Silver is 0.4% higher, platinum is 0.3% lower and palladium is 0.2% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the Unemployment Claims 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).
Thursday, November 21
- 3:00 a.m. Australia - RBA Gov Bullock Speech
- 8:30 a.m. U.S. - Unemployment Claims, Philly Fed Manufacturing Index
- 8:45 a.m. U.S. - FOMC Member Hammack Speech
- 10:00 a.m. U.S. - Existing Home Sales, CB Leading Index m/m
- 12:25 p.m. U.S. - FOMC Member Goolsbee Speech
- 12:30 p.m. U.S. - FOMC Member Hammack Speech
- 4:40 p.m. U.S. - FOMC Member Barr Speech
Friday, November 22
- 2:00 a.m. U.K. - Retail Sales m/m
- 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI, ECB President Lagarde Speaks
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- 6:15 p.m. U.S. - FOMC Member Bowman Speech
Paul Rejczak
Stock Trading Strategist