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Tuesday, Oct. 5 – Gold Price Closer to $,1750 Again


The gold futures contract gained 0.52% on Monday, as it extended its short-term advance over the $1,750 price level. The market got back above that level following a downward correction in U.S. dollar and falling stock prices. This morning gold is retracing some of the recent advance, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.8% lower, as it is getting closer to the $1,750 level again. What about the other precious metals? Silver is 0.9% lower, platinum is 1.2% lower and palladium is unchanged. So precious metals’ prices are lower this morning.

Yesterday’s Factory Orders release has been slightly better than expected at +1.2%. Today we will get the ISM Services PMI release at 10:00 a.m., among others.

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

Tuesday, October 5

  • 8:30 a.m. U.S. – Trade Balance

  • 10:00 a.m. U.S. – ISM Services PMI, IBD/TIPP Economic Optimism

  • 11:00 a.m. Eurozone – ECB President Lagarde Speech

  • 1:15 p.m. U.S. – FOMC Member Quarles Speech

  • Tentative, Japan – BOJ Governor Kuroda Speech

  • All Day, Eurozone – ECOFIN Meetings

  • All Day, China – Bank Holiday

Wednesday, October 6

  • 8:15 a.m. U.S – ADP Non-Farm Employment Change

  • 9:00 a.m. U.S. – FOMC Member Bostic Speech

  • 11:30 a.m. U.S. – FOMC Member Bostic Speech

  • All Day, China – Bank Holiday

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

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase 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 held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

This article was originally posted on FX Empire

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