Gold is higher again, retracing more of its recent declines.
The gold futures contract gained 0.87% on Thursday, November 21, as it continued its short-term uptrend, reaching the $2,675 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 further extending its uptrend, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 1.0% higher, as it is trading slightly above the $2,700 level. What about the other precious metals? Silver is 1.2% higher, platinum is 0.2% lower and palladium is 1.7% lower. So, the main precious metals’ prices are higher this morning.
Yesterday’s Unemployment Claims release has been lower than expected at 213,000. Today, we will get the important Flash Manufacturing PMI and Flash Services PMI numbers at 10:00 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, 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
Monday, November 25
- 4:00 a.m. Eurozone - German ifo Business Climate
Paul Rejczak
Stock Trading Strategist