Daily Gold News: Tuesday, Oct. 26 – Gold’s Short-term Consolidation at $1,800

The gold futures contract gained 0.58% on Monday, as it fluctuated following its 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 gold is trading slightly above the $1,800 level, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.2% lower, as it is still trading close to the $1,800 level. What about the other precious metals? Silver is 0.8% lower, platinum is 0.7% lower and palladium is 0.7% lower. So precious metals’ prices are lower this morning.

Yesterday we didn’t get any new important economic data releases. Today the markets will be waiting for the CB Consumer Confidence release at 10:00 a.m. We will also have the Richmond Manufacturing Index and New Home Sales releases, among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Tuesday, October 26

  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y

  • 10:00 a.m. U.S. – CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales

Wednesday, October 27

  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m, Goods Trade Balance, Preliminary Wholesale Inventories m/m

  • 10:00 a.m. Canada – BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate

  • 11:00 a.m. Canada – BOC Press Conference

  • Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate, BOJ Press Conference

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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Disclaimer

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This article was originally posted on FX Empire

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