Daily Gold News: Friday, September 9 – Gold Gains on Weaker U.S. Dollar

Gold Price Recap

The gold futures contract lost 0.44% on Thursday, September 8, as it continued to fluctuate within a short-term consolidation following the late August declines. On Wednesday it bounced from the $1,700 price level. The market extended its short-term consolidation on volatile U.S. dollar, stock markets’ bounce. This morning the yellow metal is trading along the new local high, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 1.1% higher this morning, as it is trading along its yesterday’s daily high. What about the other precious metals? Silver is 1.0% higher, platinum is 0.8% higher and palladium is 2.0% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Unemployment Claims release has been lower than expected at 222,000. Today we will get the Final Wholesale Inventories release at 10:00 a.m. and speeches from the FOMC Members later in the day.

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

Friday, September 9

• 8:30 a.m. Canada – Employment Change, Unemployment Rate, Capacity Utilization Rate
• 10:00 a.m. U.S. – Final Wholesale Inventories m/m
• 12:00 p.m. U.S. – FOMC Member George Speech, FOMC Member Waller Speech
• All Day, Eurozone – EU Economic Summit, Eurogroup Meetings

Monday, September 12

• 2:00 a.m. U.K. – GDP m/m
• 1:01 p.m. U.S. – 10-y Bond Auction

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

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