Gold reached new record highs, trading above $2,600 ahead of the Wednesday’s Fed.
The gold futures contract gained 1.17% on Friday, September 13, as it further extended its uptrend, reaching new record highs again. Gold kept advancing on stock markets rally, FOMC Rate Decision expectations. Recently, it has been trading along the $2,550 level, and on Friday, it broke the $2,600 level. The previous Wednesday, it rebounded from $2,500.
This morning, gold is fluctuating after its rally on Thursday and Friday, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.1% lower, as it is trading above the $2,600 level. What about the other precious metals? Silver is 0.7% higher, platinum is 0.7% lower and palladium is 0.4% higher. So, the main precious metals’ prices are mixed this morning.
Friday’s Preliminary UoM Consumer Sentiment release has been higher than expected at 69.0. Today, we will get the Empire State Manufacturing Index release at 8:30 a.m. The markets are eagerly awaiting the FOMC Rate Decision on Wednesday.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Monday, September 16
- 8:30 a.m. U.S. - Empire State Manufacturing Index
- All Day, China - Bank Holiday
Tuesday, September 17
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
- 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
- 10:00 a.m. U.S. - Business Inventories m/m, NAHB Housing Market Index, FOMC Member Logan Speech
Paul Rejczak
Stock Trading Strategist