Daily Gold News: Gold Gaining Ahead of U.S

Daily Gold News: Gold Gaining Ahead of U.S. Presidential Election

The gold futures contract gained 0.64% on Friday, as it retraced some of its recent declines after bouncing from $1,860 price level. Gold continues to fluctuate following September’s decline off August 7 record high at $2,089.20 to around $1,850. The yellow metal has been bouncing from the support level marked by mid-August local low of around $1,875, as we can see on the daily chart ( the chart includes today’s intraday data ):

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Gold is 0.6% higher this morning, as it is extending Friday’s advance. What about the other precious metals? Silver gained 1.22% on Friday and today it is 1.6% higher. Platinum lost 0.13% and today it is 1.2% higher. Palladium gained 0.85% on Friday and today it’s 0.3% lower. So precious metals’ prices are generally higher this morning .

Friday’s Personal Income/ Personal Spending releases have been better than expected at +0.9%/ +1.4%. The Chicago PMI and Consumer Sentiment releases have also been better than expected. Today we will get the relatively important ISM Manufacturing PMI number release at 10:00 a.m. This week, the markets will await tomorrow’s U.S. Presidential Election’s outcome, Thursday’s FOMC Statement release and Friday’s monthly jobs data .

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

Monday, November 2

  • 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
  • 10:30 p.m. Australia – Cash Rate, RBA Rate Statement
  • All Day, Japan – Bank Holiday

Tuesday, November 3

  • 10:00 a.m. U.S. – Factory Orders m/m, IBD/TIPP Economic Optimism
  • 8:45 p.m. China – Caixin Services PMI
  • All Day, U.S. – Presidential Election

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.


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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Credit: Nasdaq

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