Gold is reaching new highs as markets fear tariff developments.
The gold futures contract gained 3.19% on Thursday, April 10, as it moved near its record high on continuing economic uncertainty, tariff developments, weakening U.S. dollar. Recently, the market retreated from its new record high of around $3,200, and on Monday, it traded as low as $2,970.40.
On November 14, gold was the lowest since mid-September after dropping in a reaction to the presidential elections. Gold extended its decline from the late October high, reaching a local low of $2,541.50.
This morning, gold is reaching new record highs, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 1.9% higher, as it is trading along the $3,240 level. What about the other precious metals? Silver is 1.9% higher, platinum is 1.3% higher and palladium is 0.8% higher. So, the main precious metals’ prices are higher this morning.
Yesterday’s Consumer Price Index release has been lower than expected at -0.1% month-over-month. Today, we will get the PPI release at 8:30 a.m., and the Preliminary UoM Consumer Sentiment number at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Friday, April 11
- 2:00 a.m. U.K. - GDP m/m
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations, FOMC Member Musalem Speech
- 11:00 a.m. U.S. - FOMC Member Williams Speech
- All Day, Eurozone - Eurogroup Meetings
Monday, April 14
- 12:00 p.m. U.S. - FOMC Member Barkin Speech
- 6:00 p.m. U.S. - FOMC Member Harker Speech
- 7:40 p.m. U.S. - FOMC Member Bostic Speech
Paul Rejczak
Stock Trading Strategist