Daily Gold News: Thursday, Oct. 28 – Gold Unchanged at $1,800
The gold futures contract gained 0.30% on Wednesday, as it extended its short-term consolidation following last Friday’s advance and a breakout above the $1,800 price level. On Friday, gold was the highest since Sep. 7 following weakening U.S. dollar and rising stock markets, among other factors. This morning the yellow metal is trading close to the $1,800 price level again, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.1% lower, as it is trading along its yesterday’s daily closing price. What about the other precious metals? Silver is 0.1% lower, platinum is 0.6% higher and palladium is 2.4% higher. So precious metals’ prices are mixed this morning.
Yesterday’s Durable Goods Orders release has been better than expected at -0.4% vs. a forecast of -1.1%. Today we will get the Advance GDP and Unemployment Claims at 8:30 a.m. and the Pending Home Sales release at 10:00 a.m. We will also have the ECB’s Monetary Policy Statement release at 7:45 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, October 28
7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
8:30 a.m. Eurozone – ECB Press Conference
8:30 a.m. U.S. – Advance GDP q/q, Advance GDP Price Index q/q, Unemployment Claims
10:00 a.m. U.S. – Pending Home Sales m/m
Friday, October 29
4:00 a.m. Eurozone – German Preliminary GDP q/q
8:30 a.m. U.S. – Core PCE Price Index m/m, Employment Cost Index q/q, Personal Income m/m, Personal Spending m/m
8:30 a.m. Canada – GDP m/m, IPPI m/m, RMPI m/m
9:45 a.m. U.S. – Chicago PMI
10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
Tentative, U.S. – Treasury Currency Report
For a look at all of today’s economic events, check out our economic calendar.
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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This article was originally posted on FX Empire
