Gold price remains close to $2,550; monthly jobs data in focus.
The gold futures contract gained 0.58% on Thursday, September 5, as it retraced its last Friday’s decline following economic data, weaker U.S. dollar. On Wednesday, it rebounded from the $2,500 level again. Early last week, gold approached its August 20 record high of $2,570.40.
This morning, gold is moving sideways ahead of data releases, 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 $2,550 level again. What about the other precious metals? Silver is 0.3% higher, platinum is 0.3% higher and palladium is 0.3% higher. So, the main precious metals’ prices are higher this morning.
Yesterday’s JOLTS ADP Non-Farm Employment Change release has been lower than expected at +99,000. Today, we will get the important monthly jobs data at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
- 8:30 a.m. U.S. - Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 8:45 a.m. U.S. - FOMC Member Williams Speech
- 10:00 a.m. Canada - Ivey PMI
- 11:00 a.m. U.S. - FOMC Member Waller Speech
Monday, September 9
- 10:00 a.m. U.S. - Final Wholesale Inventories m/m
- 3:00 p.m. U.S. - Consumer Credit m/m
Paul Rejczak
Stock Trading Strategist