Gold is pulling back from its Tuesday’s new record high; economic data, tariffs news in focus.
The gold futures contract lost 0.17% on Tuesday, April 22, as it pulled back from its new record high of $3,509.90. Recently, gold kept advancing on continuing economic uncertainty, tariff developments, weakening U.S. dollar. In early April, it retreated from its previous high, trading 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 extending its pullback, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 3.0% lower, as it is trading along the $3,340 level. What about the other precious metals? Silver is 0.1% higher, platinum is 0.9% higher and palladium is 1.3% higher. So, the main precious metals’ prices are mixed this morning.
Today, we will get the important Flash Manufacturing PMI and Flash Services PMI numbers at 9:45 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, April 23
- 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 9:00 a.m. U.S. - FOMC Member Goolsbee Speech
- 9:35 a.m. U.S. - FOMC Member Waller Speech
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - New Home Sales
- 1:15 p.m. U.K. - BOE Governor Bailey Speech
- 2:00 p.m. U.S. - Beige Book
- 6:30 p.m. U.S. - FOMC Member Hammack Speech
- All Day - IMF Meetings
Thursday, April 24
- 4:00 a.m. Eurozone - German ifo Business Climate
- 8:30 a.m. U.S. - Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m
- 10:00 a.m. U.S. - Existing Home Sales
- 5:00 p.m. U.S. - FOMC Member Kashkari Speech
- 7:30 p.m. Japan - Tokyo Core CPI y/y
- All Day - IMF Meetings
- All Day, Australia - Bank Holiday
Paul Rejczak
Stock Trading Strategist