Gold price extends a record-breaking rally, reaching new highs above $2,600
The gold futures contract gained 0.62% on Thursday, September 19, as it retraced its Wednesday’s intraday pullback, nearing record high again. On Wednesday, gold went sideways after a volatile trading session caused by the FOMC Rate Decision. Gold reached a new record high before going back below $2,600.
Last week, gold kept advancing on stock markets rally, FOMC Rate Decision expectations. Recently, it has been trading along the $2,550 level. On the previous Wednesday, it rebounded from $2,500.
This morning, gold is reaching new records, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.9% higher, as it is trading closer to the $2,640 level. What about the other precious metals? Silver is 0.7% higher, platinum is 0.4% higher and palladium is 0.4% lower. So, the main precious metals’ prices are higher this morning.
Yesterday’s Unemployment Claims release has been lower than expected at 219,000. Today, we won’t get any new important economic data.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
- 8:15 a.m. Canada - BOC Governor Macklem Speech
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 11:00 a.m. Eurozone - ECB President Lagarde Speech
- 2:00 p.m. U.S. - FOMC Member Harker Speech
- Tentative, Japan - BOJ Press Conference
Monday, September 23
- 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:00 a.m. U.S. - FOMC Member Bostic Speech
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:15 a.m. U.S. - FOMC Member Goolsbee Speech
- 1:00 p.m. U.S. - FOMC Member Kashkari Speech
Paul Rejczak
Stock Trading Strategist