Gold reaches new record highs, trading around $2,800; economic data in focus.
The gold futures contract gained 0.91% on Tuesday, October 29, as it broke above its last week’s new record high of around $2,773. It moved near the $2,800 level ahead of economic data, upcoming presidential elections. Recently, the yellow metal kept gaining amid strengthening U.S. dollar, geopolitical tensions, among others.
This morning, gold is trading around a new record high, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.4% higher, as it is trading above the $2,790 level. What about the other precious metals? Silver is 0.5% lower, platinum is 1.7% lower and palladium is 2.1% lower. So, the main precious metals’ prices are lower this morning.
Yesterday’s JOLTS Job Openings release has been lower than expected at 7.44 million. Today, we will get the important ADP Non-Farm Employment Change release at 8:15 a.m., and Advance GDP number 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).
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
Thursday, October 31
- 6:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Core PCE Price Index m/m, Employment Cost Index q/q, Unemployment Claims, Personal Income m/m, Personal Spending m/m
- 9:45 a.m. U.S. - Chicago PMI
- Tentative, Japan - BOJ Press Conference
Paul Rejczak
Stock Trading Strategist