Gold price retraced some of its recent rally; economic data in focus.
The gold futures contract lost 1.10% on Wednesday, October 23, as it retraced some of its recent advances after reaching another new record high of $2,772.60. Yesterday, it went briefly below the $2,725 level. Recently, the yellow metal kept gaining amid strengthening U.S. dollar, geopolitical tensions and incoming U.S. Presidential Elections.
This morning, gold is rebounding, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.8% higher, as it is trading along the $2,750 level. What about the other precious metals? Silver is 1.4% higher, platinum is 2.0% higher and palladium is 8.4% higher. So, the main precious metals’ prices are higher this morning.
Yesterday’s Existing Home Sales release has been slightly lower than expected at 3.84 million. Today, we will get the Unemployment Claims release at 8:30 a.m. and Flash Manufacturing PMI, 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).
Thursday, October 24
- 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
- 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. U.S. - Unemployment Claims
- 8:45 a.m. U.S. - FOMC Member Hammack Speech
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - New Home Sales
- 7:30 p.m. Japan - Tokyo Core CPI y/y
- All Day - IMF Meetings
- All Day - BRICS Summit
Friday, October 25
- 4:00 a.m. Eurozone - German ifo Business Climate
- 8:30 a.m. U.S. - Durable Goods Orders m/m, Core Durable Goods Orders m/m
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- All Day - IMF Meetings
Paul Rejczak
Stock Trading Strategist