The gold futures contract has further extended its long-term uptrend on Monday. The market reached new record high at the level of $2,009.50, before closing virtually unchanged (+0.02%). Gold price is the highest in history following U.S. dollar sell-off, among other factors.

Gold is unchanged this morning as it is trading within a short-term consolidation. What about the other precious metals? Silver gained 0.83% on Monday and today it is unchanged. Platinum gained 1.33% and today it is 1.2% higher. Palladium lost 0.27% on Monday and today it's 1.1% higher. The gold price remains within a week-long consolidation along $1,950-2,000.

Yesterday's ISM Manufacturing PMI release has been slightly better than expected at 54.2. The ISM Manufacturing PMI got back above the neutral level of 50 following steep declines in May and June.

The markets will now wait for the important monthly jobs data release on Friday. On Wednesday we will get the ADP Non-Farm Employment Change, among others. And today the Factory Orders number will be released at 10:00 a.m.

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

Tuesday, August 4

• 00:30 a.m. Australia - Cash Rate, RBA Rate Statement
• 10:00 a.m. U.S. - Factory Orders m/m, IBD/TIPP Economic Optimism
• 9:45 p.m. China - Caixin Services PMI

Wednesday, August 5

• 8:00 a.m. Japan - BOJ Governor Kuroda Speech
• 8:15 a.m. U.S. - ADP Non-Farm Employment Change
• 8:30 a.m. U.S. - Trade Balance
• 9:45 a.m. U.S. - Final Services PMI
• 10:00 a.m. U.S. - ISM Non-Manufacturing PMI
• 5:00 p.m. U.S. - FOMC Member Mester Speech

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

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Sunshine Profits: Analysis. Care. Profits.

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The gold futures contract reached another new record high on Friday at the price level of $2,005.40. The market has slightly extended its recent advance again. The market gained 0.97%, but the closing price was at around $20 below the daily high. Gold reached the highest in history following U.S. dollar sell-off, among other factors.

Gold is 0.4% lower this morning as it is slightly retracing Friday's advance. What about the other precious metals? Silver gained 3.66% on Friday and today it is 1.3% lower. Platinum gained 0.69% and today it is 0.3% higher. Palladium gained 0.49% on Friday and today it's 1.2% higher. So precious metals trade within a short-term downward correction this morning. The gold price remains within a week-long consolidation along $1,950-2,000.

Friday's Personal Income/ Personal Spending data release along with the sentiment numbers have been mixed. Today we will get the ISM Manufacturing PMI number at 10:00, among others. Expectations are at 53.6 - one point above the previous month's release. The ISM Manufacturing PMI got back above the neutral level of 50 following steep declines in May and June.

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

Monday, August 3

• 9:45 a.m. U.S. - Final Manufacturing PMI
• 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
• All Day, Canada - Bank Holiday

Tuesday, August 4

• 00:30 a.m. Australia - Cash Rate, RBA Rate Statement
• 10:00 a.m. U.S. - Factory Orders m/m, IBD/TIPP Economic Optimism
• 9:45 p.m. China - Caixin Services PMI

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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The gold futures contract reached another new record high of $1,987.30 on Thursday, as it slightly extended its recent advance again. The market gained 0.69%, but the closing price was $20 below the daily high. Gold reached the highest in history following U.S. dollar sell-off, among other factors.

Gold is 0.9% higher this morning as it is trading along the new record high. What about the other precious metals? Silver lost 3.94% on Thursday and today it is 2.1% higher. Platinum lost 4.79% and today it is 0.3% lower. Palladium lost 5.59% on Thursday and today it's 1.0% lower. So precious metals are mixed this morning.

Yesterday's U.S. Advance GDP number has been slightly better than expected. However, the economy contracted by a stunning 32.9% in the second quarter. The Unemployment Claims number surpassed 1.4 million again.

Today we will get Personal Income/ Personal Spending release at 8:30 a.m. The Chicago PMI will be released at 9:45 a.m. and at 10:00 a.m. we will get the revised Michigan Sentiment number.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, July 31

• 8:30 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Employment Cost Index q/q
• 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

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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The gold futures contract reached new record high of $1,974.90 on Wednesday, as it slightly extended its recent advance. But the market has closed just 0.45% higher and over $20 below yesterday's daily high. Gold reached the highest in history following U.S. dollar sell-off, among other factors.

Gold is 0.9% lower this morning as it is trading within a short-term consolidation following record-breaking advance. What about the other precious metals? Silver gained 0.09% on Wednesday and today it is 3.9% lower. Platinum lost 2.81% and today it is 2.5% lower. Palladium lost 4.41% on Wednesday and today it's 5.3% lower. So precious metals are retracing some of their recent rally this morning.

Yesterday's U.S. Pending Home Sales number release has been slightly better than expected. At 2:00 p.m. we got the FOMC Statement announcement that has led to an increased volatility. Gold went higher before retracing the whole intraday advance.

Today we will get the important U.S. Advance GDP number, among others. The GDP is expected to decline by a stunning 34.5% q/q!

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

Thursday, July 30

• 4:00 a.m. Eurozone - German Preliminary GDP q/q, ECB Economic Bulletin
• 5:00 a.m. Eurozone - Unemployment Rate
• 8:30 a.m. U.S. - Advance GDP q/q, Advance GDP Price Index q/q, Unemployment Claims
• 9:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI

Friday, July 31

• 8:30 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Employment Cost Index q/q
• 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

What future gold price behavior may be? Let's take a look at our proprietary Gold True Seasonality for the third quarter of 2020 where we combined the regular seasonality with the effect of the expiration of options and accuracy estimation. The yearly seasonal pattern of the price of gold was calculated using a 18-year-long period from 2002 to 2019 and then adjusted for the expiration of options that we observed between 2009 and 2019.

We can see that gold is usually going higher in August and September. But will the market continue upwards despite some clear technical overbought conditions and a possible uptrend exhaustion?

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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On Tuesday the gold futures contract reached another new record high of $1,974.70, as it accelerated the advance following recent breakout above the short-term trading range and $1,800 level. However, the yellow metal closed $30 below the daily high yesterday, as it gained 0.7%. Gold reached the highest in history following U.S. dollar sell-off, among other factors.

Gold is unchanged this morning as it is extending a short-term consolidation following record-breaking advance. What about the other precious metals? Silver lost 0.82% on Tuesday and today it is 0.1 % lower. Platinum gained 2.03% and today it is 1.1% lower. Palladium lost 0.18% on Tuesday and today it's 2.7% lower. So precious metals are mixed this morning.

Yesterday's U.S. CB Consumer Confidence release has been slightly worse than expected at 92.6. Today we will get the Pending Home Sales number at 10:00 a.m. and then the important FOMC Statement release at 2:00 p.m.

On Thursday we will get the U.S. Advance GDP number, among others. The GDP is expected to decline by a stunning 35.0% q/q!

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

Wednesday, July 29

• 8:30 a.m. U.S. - Goods Trade Balance, Preliminary Wholesale Inventories m/m
• 10:00 a.m. U.S. - Pending Home Sales m/m
• 2:00 p.m. U.S. - FOMC Statement, Federal Funds Rate
• 2:30 p.m. U.S. - FOMC Press Conference

Thursday, July 30

• 4:00 a.m. Eurozone - German Preliminary GDP q/q, ECB Economic Bulletin
• 5:00 a.m. Eurozone - Unemployment Rate
• 8:30 a.m. U.S. - Advance GDP q/q, Advance GDP Price Index q/q, Unemployment Claims
• 9:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

• Read more