Daily Gold News: Thursday, August 25 – Gold Price Keeps Bouncing Back

Gold Price Recap

The gold futures contract gained 0.02% on Wednesday, August 24, as it fluctuated following Tuesday’s rebound of 0.7%. On Monday the market reached its short-term low of $1,740.20. Since then gold has been retracing some of the recent declines. This morning the yellow metal is trading higher on weakening U.S. dollar, among other factors, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.7% higher, as it is trading closer to the $1,775 price level. What about the other precious metals? Silver is 1.2% higher, platinum is 0.7% higher and palladium is 1.1% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Durable Goods Orders release has been lower than expected at 0.0% m/m and Pending Home Sales release has been higher than expected at -1.0% m/m. Today we will get the important Preliminary GDP number along with the Unemployment Claims releases at 8:30 a.m.

Investors will be waiting for tomorrow’s Core PCE Price Index release and the important Fed Chair Powell Speech at the Jackson Hole Symposium.

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

Thursday, August 25

  • 4:00 a.m. Eurozone – German ifo Business Climate
  • 7:30 a.m. Eurozone – ECB Monetary Policy Meeting Accounts
  • 8:30 a.m. U.S. – Preliminary GDP q/q, Unemployment Claims, Preliminary GDP Price Index q/q
  • All Day, U.S. – Jackson Hole Symposium

Friday, August 26

  • 8:30 a.m. U.S. – Core PCE Price Index m/m, Goods Trade Balance, Personal Income m/m, Personal Spending m/m, Preliminary Wholesale Inventories m/m
  • 10:00 a.m. U.S. – Fed Chair Powell Speech, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
  • All Day, U.S. – Jackson Hole Symposium

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

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All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

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