Daily Gold News: Tuesday, August 30 – Gold Trading Sideways

Gold Price Recap

The gold futures contract lost 0.01% on Monday, August 29, as it fluctuated following its Friday’s decline of 1.2% after a speech from the Fed Chair Powell at the Jackson Hole Symposium. Yesterday gold fell to the new local low of $1,731.4 before bouncing up and closing virtually flat. This morning yellow metal is trading sideways, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading along the $1,730 price level. What about the other precious metals? Silver is 0.3% lower, platinum is 0.6% lower and palladium is 1.1% lower. So the main precious metals’ prices are slightly lower this morning.

Fundamentals and Economic News Schedule

Today we will get the important CB Consumer Confidence, JOLTS Job Openings releases at 10:00 a.m. The markets will be waiting for tomorrow’s ADP Non-Farm Employment Change, Thursday’s ISM Manufacturing PMI, and Friday’s monthly jobs data releases.

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

Tuesday, August 30

  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
  • 10:00 a.m. U.S. – CB Consumer Confidence, JOLTS Job Openings
  • 11:00 a.m. U.S. – FOMC Member Williams Speech
  • All Day, Eurozone – German Preliminary CPI m/m

Wednesday, August 31

  • 5:00 a.m. Eurozone – CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
  • 8:00 a.m. U.S. – FOMC Member Mester Speech
  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 9:45 a.m. U.S. – Chicago PMI
  • 9:45 p.m. China – Caixin Manufacturing PMI

Paul Rejczak
Stock Trading 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.

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