The gold futures contract gained 0.14% on Monday, as it fluctuated following breaking above $1,900 price level. On last week’s Tuesday volatility has increased following a tweet from the U.S. President ending stimulus talks. But overall, the market has extended its consolidation. Recently gold was retracing a rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance, among other factors. Then gold has bounced from the support level marked by mid-August local low of around $1,875, as we can see on the daily chart ( the chart includes today’s intraday data ):
Gold is 0.1% lower this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver gained 0.65% on Monday and today it is 0.4% lower. Platinum lost 2.01% and today it is 0.5% lower. Palladium lost 1.53% on Monday and today it is 0.3% higher. So precious metals are mixed this morning.
Yesterday there were Bank Holidays in the U.S. and Canada and intraday volatility has been relatively low. The German ZEW Economic Sentiment has been lower than expected this morning. Today we will also get the U.S. Consumer Price Index . The German ZEW Economic Sentiment has been lower than expected this morning.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, October 13
- 5:00 a.m. Eurozone – German ZEW Economic Sentiment, ZEW Economic Sentiment
- 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
Wednesday, October 14
- 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
- 9:00 a.m. U.S. – FOMC Member Clarida Speech
- 10:30 a.m. U.S. – FOMC Member Quarles Speech
- 5:45 a.m. Australia – RBA Governor Lowe Speech
- 6:00 p.m. U.S. – FOMC Member Kaplan Speech
- 8:30 a.m. Australia – Employment Change, Unemployment Rate
- 9:30 p.m. China – CPI y/y. PPI y/y
For a look at all of today’s economic events, check out our economic calendar.
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