The gold futures contract lost 0.18% on Friday, as it continued to fluctuate following Wednesday's decline of over 1.7%. The intraday volatility has been relatively low despite monthly jobs data release. Today gold price continues slightly lower, as it trades 0.5% below yesterday's closing price. The yellow metal remains within a short-term consolidation, as Friday's gold futures chart shows:
What about the other precious metals? Silver is 0.8% lower this morning. Platinum is 1.2% lower and palladium is 0.1% lower. So precious metals are going down this morning.
Today we won't get any important economic data releases.
The market will wait for Thursday's ECB Monetary Policy Statement along with the ECB Press Conference.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, September 8
- 6:00 a.m. U.S. - NFIB Small Business Index
- 10:00 a.m. U.S. - IBD/TIPP Economic Optimism
Wednesday, September 9
- 10:00 a.m. U.S. - JOLTS Job Openings
- 10:00 a.m. Canada - BOC Rate Statement, Overnight Rate
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Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
