Gold price extends consolidation ahead of the important inflation data.
The gold futures contract gained 0.41% on Tuesday, September 10, as it extended its consolidation, nearing the $2,550 level again. Last Wednesday, it rebounded from $2,500, and on Friday, gold approached its August 20 record high of $2,570.40, before reversing lower.
This morning, gold is closer to Friday’s high, 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 along the $2,550 level. What about the other precious metals? Silver is 1.9% higher, platinum is 0.2% lower and palladium is 0.2% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the important Consumer Price Index release at 8:30 a.m. It will likely lead to a volatility in currencies, metals and stocks.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, September 11
- 2:00 a.m. U.K. - GDP m/m
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y
- 1:01 p.m. U.S. - 10-y Bond Auction
Thursday, September 12
- 8:15 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 1:01 p.m. U.S. - 30-y Bond Auction
- 2:00 p.m. U.S. - Federal Budget Balance
Paul Rejczak
Stock Trading Strategist