Daily Gold News: Gold Remains Close to $1,900
The gold futures contract lost 0.94% on Wednesday as it expanded its consolidation to the $ 1,900 level. On Tuesday, volatility increased after the US president closed business talks. Overall, however, the market continued to move sideways. Gold recently rallied around $ 1,800 through August 7, a record high of $ 2,089.20, in response to the US dollar's surge, in part. Then gold rebounded from the support level marked by the local mid-August low of around USD 1,875 as we can see on the daily chart (the chart includes today's intraday data):
Gold is up 0.4% this morning as it continues to expand short term consolidation. What about the other precious metals? Silver lost 0.1% on Wednesday and is up 0.9% today. Platinum lost 0.40% and is down 0.1% today. Palladium lost 0.38% yesterday and is 0.7% higher today. So precious metals are generally higher this morning.
Yesterday's publication of the FOMC Meeting Minutes was positive for the markets. Today we get the number of unemployment claims at 8:30 a.m. It is expected to decrease slightly to 820,000.
Below is our gold, silver, and mining stocks economic news schedule for the next two trading days:
Thursday October 8th
8:30 a.m. USA - Unemployment Claims
8:30 a.m. Canada - Speech by BOC Governor Macklem
9.45 p.m. China - Caixin Services PMI
Friday October 9th
8:30 a.m. Canada - job changes, unemployment rate
10:00 a.m. USA - Final Wholesale Stocks m / m
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All of the above articles, research and information are only analyzes and opinions of Paul Rejczak and Sunshine Profits employees. As such, it may prove to be incorrect and may be changed without notice. Opinions and analyzes were based on data available to the authors of the respective articles at the time of writing. Although the information provided above is based on careful research and sources believed to be accurate, Paul Rejczak and his staff do not guarantee the accuracy or thoroughness of any reported data or information. The opinions published above are neither an offer nor a recommendation to buy or sell any securities. Mr. Rejczak is not a registered securities advisor. By reading Paul Rejczak's reports, you fully agree that he will not be responsible or liable for any decisions that you make regarding the information contained in these reports. Investing, trading and speculating in financial markets can carry a high risk of loss. Paul Rejczak, Sunshine Profits employees and affiliates and their families may have a short or long position in any securities, including those referred to in the reports or articles, and may make additional purchases and / or sales of such securities without notice.
This article was originally published on FX Empire
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