Gold price reaches new record highs following last week’s Fed Decision.
The gold futures contract gained 0.24% on Monday, September 23, as it extended its recent advances, reaching another new record high above the $2,650 level. Last Thursday, it retraced its Wednesday’s intraday pullback after a volatile trading session caused by the FOMC Rate Decision.
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 trading slightly higher again, near a new record high of $2,664, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.2% higher, as it is trading near the $2,660 level. What about the other precious metals? Silver is also 0.2% higher, platinum is 1.2% higher and palladium is 2.2% higher. So, the main precious metals’ prices are slightly higher this morning.
Yesterday’s Flash Manufacturing PMI and Flash Services PMI releases have been mixed. Today, we will get the important CB Consumer Confidence release at 10:00 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).
Tuesday, September 24
- 12:30 a.m. Australia - Cash Rate, RBA Rate Statement
- 1:05 a.m. Japan - BOJ Governor Ueda Speech
- 1:30 a.m. Australia - RBA Press Conference
- 4:00 a.m. Eurozone - German ifo Business Climate
- 9:00 a.m. U.S. - S&P/CS Composite-20 HPI y/y, HPI m/m, FOMC Member Bowman Speech
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index
- 1:10 p.m. Canada - BOC Governor Macklem Speech
- 9:30 p.m. Australia - CPI y/y
Wednesday, September 25
- 10:00 a.m. U.S. - New Home Sales
- 4:00 p.m. U.S. - FOMC Member Kugler Speech
Paul Rejczak
Stock Trading Strategist