The gold futures contract gained 0.03% on Monday, as it remained within a consolidation above $1,900 price level. In September the market was retracing its rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance. 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 continues to trade within a consolidation. What about the other precious metals? Silver lost 1.03% on Monday and today it is 0.2% higher. Platinum lost 3.23% and today it is 0.2% higher. Palladium lost 1.25% yesterday and today it is 0.1% lower. So precious metals are generally unchanged this morning .
Yesterday’s New Home Sales release has been slightly worse than expected at 959,000. Today we will get the Consumer Confidence release at 10:00 a.m., among others. The markets will wait for Thursday’s important Advance GDP number release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Tuesday, October 27
- 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m
- 10:00 a.m. U.S. – CB Consumer Confidence , Richmond Manufacturing Index
- 8:30 p.m. Australia – CPI q/q
Wednesday, October 28
- 8:30 a.m. U.S. – Preliminary Wholesale Inventories m/m, Goods Trade Balance
- 10:00 a.m. Canada – Overnight Rate, BOC Monetary Policy Report, BOC Rate Statement
- 11:15 a.m. Canada – BOC Press Conference
- 6:00 p.m. U.S. – FOMC Member Kaplan Speech
- Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate
For a look at all of today’s economic events, check out our economic calendar.
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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This article was originally posted on FX Empire
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