Daily Gold News: Wednesday, Nov. 3 – Gold Moves Lower Ahead of the FOMC – Yahoo Finance

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The gold futures contract lost 0.36% on Tuesday, Nov. 2, as it still traded within a consolidation along the $1,800 price level. In the late October, gold was the highest since the Sep. 7 local high following weakening U.S. dollar, among other factors. This morning the yellow metal is trading below the recent local lows, as we can see on the daily chart (the chart includes today’s intraday data):

Right now gold is 1.2% lower, as it is trading below its last week’s low of $1,772.40. What about the other precious metals? Silver is 2.0% lower, platinum is 1.6% lower and palladium is 1.5% lower. So precious metals’ prices are lower this morning.

The markets will are waiting for today’s FOMC Monetary Policy update. We may expect an increased volatility in the precious metals, currencies pairs and stocks.

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

Wednesday, November 3

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

  • 10:00 a.m. U.S. – ISM Services PMI, Factory Orders m/m

  • 10:45 a.m. U.S. – Final Services PMI

  • 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate, FOMC Press Conference

Thursday, November 4

  • 8:00 a.m. U.K. – BOE Monetary Policy Report, Official Bank Rate

  • 8:30 a.m. U.S. – Unemployment Claims, Preliminary Nonfarm Productivity q/q, Preliminary Unit Labor Costs q/q, Trade Balance

  • All Day – OPEC-JMMC Meetings

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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