Gold price keeps moving sideways; Thursday’s inflation number in focus.
The gold futures contract lost 0.07% on Monday, October 7, as it continued sideways following its late September record-breaking rally. Gold remains within a consolidation along the $2,650-2,700 level. In early September, it was trading along the $2,550 level, before rebounding from $2,500, and on September 26, gold reached a record high of $2708.70
This morning, gold is moving sideways again, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is unchanged, as it is trading slightly below the $2,670 level. What about the other precious metals? Silver is 1.4% lower, platinum is 0.6% lower and palladium is 0.9% lower. So, the main precious metals’ prices are mixed this morning.
Today, we will get the Trade Balance release at 8:30 a.m. There will also be speeches from the FOMC Members. The markets are awaiting key inflation data on Thursday.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, October 8
- 3:00 a.m. U.S. - FOMC Member Kugler Speech
- 8:30 a.m. U.S. - Trade Balance
- 12:45 p.m. U.S. - FOMC Member Bostic Speech
- 4:00 p.m. U.S. - FOMC Member Collins Speech
- 7:30 p.m. U.S. - FOMC Member Jefferson Speech
- Tentative, U.S. - RCM/TIPP Economic Optimism
- All Day, Eurozone - ECOFIN Meetings
Wednesday, October 9
- 8:00 a.m. U.S. - FOMC Member Bostic Speech
- 9:15 a.m. U.S. - FOMC Member Logan Speech
- 10:30 a.m. U.S. - FOMC Member Goolsbee Speech
- 12:30 p.m. U.S. - FOMC Member Jefferson Speech
- 1:01 p.m. U.S. - 10-y Bond Auction
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 5:00 p.m. U.S. - FOMC Member Collins Speech
- 6:00 p.m. U.S. - FOMC Member Daly Speaks
Paul Rejczak
Stock Trading Strategist