Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
- Gold and silver prices are firmer in early U.S. trading Wednesday, with gold notching a three-week high, in the immediate aftermath of a batch of U.S. economic data than came in a bit weaker than market expectations. December gold was last up $8.10 at $1,973.20 and December silver was up $0.081 at $24.59.
The busy U.S. data week is highlighted by Friday’s employment situation report for August from the Labor Department. The key non-farm payrolls number is expected to come in at up 170,000, compared to a rise of 187,000 in the July report. In overnight news, the Euro zone economic sentiment index dropped to 93.3 in August from 94.5 in July, but was in line with market expectations.
Other U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the advance economic indicators report, pending home sales and the weekly DOE liquid energy stocks report.
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