Daily Gold News: Wednesday, Oct. 13 – Gold’s Attempt at Breaking Higher – Yahoo Finance

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The gold futures contract gained 0.21% on Tuesday, as it still fluctuated within a consolidation above 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 trading closer to the recent local highs, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.7% higher, as it is trading above the $1,770 price level. What about the other precious metals? Silver is 1.6% higher, platinum is 0.3% higher and palladium is 1.3% higher. So precious metals’ prices are higher this morning.

Yesterday’s JOLTS Job Openings release has been slightly lower than expected at 10.44M. Today we will get the important Consumer Price Index announcement at 8:30 a.m. We will also have the FOMC Meeting Minutes release at 2:00 p.m.

Where would the price of gold go following Friday’s Nonfarm Payrolls announcement? We’ve compiled the data since September of 2018, a 37-month-long period of time that contains of thirty seven NFP releases. The following chart shows the average gold price path before and after the NFP releases for the past 36 months. The market was usually advancing ahead of the release day and closing 0.18% higher on the 10th day after the NFP release.

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

Wednesday, October 13

  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m

  • 1:01 p.m. U.S. – 30-y Bond Auction

  • 2:00 p.m. U.S. – FOMC Meeting Minutes

  • 4:30 p.m. U.S. – FOMC Member Brainard Speech

  • 8:00 p.m. U.S. – FOMC Member Bowman Speech

  • 8:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, October 14

  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims

  • 10:00 a.m. U.S. – FOMC Member Bostic Speech

  • 1:00 p.m. U.S. – FOMC Member Barkin Speech

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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This article was originally posted on FX Empire


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