Daily Gold News: Jan. 24 – Gold Is Still Close to Highs

Gold price extends its uptrend, but the market remains within a relatively tight trading range.

The gold futures contract gained 0.02% on Monday, Jan. 23, as it extended a short-term consolidation along new medium-term highs. Recently the yellow metal advanced on weaker U.S. dollar following economic data releases, among other factors. In early January it fluctuated after Central Banks’ monetary policy releases, stock markets’ volatility. Today gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):

The gold price is 0.3% higher, as it is trading along the new high. What about the other precious metals? Silver is 1.1% higher, platinum is 0.7% higher and palladium is 0.5% higher. So the main precious metals’ prices are higher this morning.

The markets will be waiting for the important PMI numbers release 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.

Tuesday, January 24

  • 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
  • 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
  • 9:45 a.m. U.S. - Flash Services PMI, Flash Manufacturing PMI
  • 10:00 a.m. U.S. - Richmond Manufacturing Index
  • 7:30 p.m. Australia - CPI q/q, CPI y/y, Trimmed Mean CPI q/q
  • All Day, China - Bank Holiday

Wednesday, January 25

  • 4:00 a.m. Eurozone - German ifo Business Climate
  • 10:00 a.m. Canada - BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
  • 11:00 a.m. Canada - BOC Press Conference
  • All Day, Australia - Bank Holiday
  • All Day, China - Bank Holiday

Paul Rejczak
Stock Trading Strategist