Daily Gold News: Jan. 4 – Gold Price Remains Above $1,850
Gold reaches new medium-term highs as new year’s optimism grows.
The gold futures contract gained 1.09% on Tuesday, Jan. 3, as it broke above its recent trading range along the $1,800 price level. The market went above the $1,850 mark yesterday, but it closed slightly below it. Recently it rallied on Bank of Japan’s monetary policy release, but then the market came back slightly to the 1,800 level again. The yellow metal fluctuated following Central Banks’ monetary policy releases, stock markets’ declines. This morning gold is extending its short-term advance, as we can see on the daily chart (the chart includes today’s intraday data):
Today the gold price is 1.0% higher, as it is trading close to the $1,860 level. What about the other precious metals? Silver is 1.2% higher, platinum is 0.2% lower and palladium is 1.5% higher. So the main precious metals’ prices are higher this morning.
Yesterday’s Final Manufacturing PMI release has been as expected at 46.2. Today we will get the important ISM Manufacturing PMI, JOLTS Job Openings and the FOMC Meeting Minutes releases.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Wednesday, January 4
- 3:55 a.m. Eurozone - German Final Services PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, ISM Manufacturing Prices, JOLTS Job Openings
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, January 5
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 8:30 a.m. U.S. - Unemployment Claims, Trade Balance
Stock Trading Strategist