Gold reached yet another new record, getting closer to the $2,700 level.
The gold futures contract gained 0.92% on Tuesday, September 24, as it continued its record -breaking rally, reaching new highs closer to the $2,700 level. Last Thursday, it retraced its Wednesday’s intraday pullback after a volatile trading session caused by the FOMC Rate Decision. Since then, the market has been advancing. In early September, it was trading along the $2,550 level, before rebounding from $2,500.
This morning, gold is trading sideways and around another new all-time high, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.1% higher, as it is trading along the $2,680 level. What about the other precious metals? Silver is 0.7% lower, platinum is 0.4% lower and palladium is 1.9% lower. So, the main precious metals’ prices are mixed this morning.
Yesterday’s CB Consumer Confidence release has been worse than expected at 98.7. Today, we will get the New Home Sales release at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, September 25
- 10:00 a.m. U.S. - New Home Sales
- 4:00 p.m. U.S. - FOMC Member Kugler Speech
Thursday, September 26
- 8:30 a.m. U.S. - Final GDP q/q, Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Final GDP Price Index q/q
- 9:10 a.m. U.S. - FOMC Member Collins Speech, FOMC Member Kugler Speech
- 9:15 a.m. U.S. - FOMC Member Bowman Speech
- 9:20 a.m. U.S. - Fed Chair Powell Speech
- 9:25 a.m. U.S. - FOMC Member Williams Speech
- 9:30 a.m. Eurozone - ECB President Lagarde Speech
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 10:30 a.m. U.S. - FOMC Member Barr Speech, FOMC Member Cook Speech
- 11:15 a.m. U.S. - Treasury Secretary Yellen Speech
- 1:00 p.m. U.S. - FOMC Member Barr Speech, FOMC Member Kashkari Speech
- 6:00 p.m. U.S. - FOMC Member Cook Speaks
- 7:30 p.m. U.S. - Tokyo Core CPI y/y
Paul Rejczak
Stock Trading Strategist