Gold gets near its all-time high again as investors await economic data.
The gold futures contract gained 0.05% on Monday, October 28, as it remained within a short-term consolidation near its last week’s Wednesday’s new record high of $2,772.60. Recently, the yellow metal kept gaining amid strengthening U.S. dollar, geopolitical tensions and the upcoming U.S. Presidential Elections.
This morning, gold is trading above the recent highs, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.3% higher, as it is trading above the $2,760 level. What about the other precious metals? Silver is 0.9% higher, platinum is 1.7% higher and palladium is 2.0% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the important CB Consumer Confidence and JOLTS Job Openings releases 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).
Tuesday, October 29
- 8:30 a.m. U.S. - Goods Trade Balance, Preliminary Wholesale Inventories m/m
- 9:00 a.m. U.S. - S&P/CS Composite-20 HPI y/y, HPI m/m
- 10:00 a.m. U.S. - CB Consumer Confidence, JOLTS Job Openings
- 8:30 p.m. Australia - CPI q/q, CPI y/y, Trimmed Mean CPI q/q
- Tentative, U.K. - Monetary Policy Report Hearings
Wednesday, October 30
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 8:30 a.m. U.S. - Advance GDP q/q, Advance GDP Price Index q/q
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 9:30 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
- Tentative, Japan - BOJ Policy Rate, Monetary Policy Statement, BOJ Outlook Report
- All Day, Eurozone - German Preliminary CPI m/m
Paul Rejczak
Stock Trading Strategist