What factors will cause gold to rise even higher next week?
This week the precious metal suffered a severe sell-off, losing roughly 2.7% at the time of this writing as the prospect of longer-term higher interest rates drove up the dollar and Treasury yields.
In the first week of Q4, we will be looking at key economic reports.
Sunday, October 1,
- CNH: Caixin services and manufacturing PMI in China
- US Government shutdown if deadline is missed
Monday, October 2,
- Australia Melbourne Institute inflation
- JPY: BoJ September meeting minutes
- EUR: Eurozone/Germany S&P Global Manufacturing PMI
- GBP: UK S&P Global/CIPS Manufacturing PMI
- USD: US ISM Manufacturing. Fed Chair Jerome Powell. Philadelphia Fed President Patrick Harker. Cleveland Fed president Loretta Mester. New York Fed president John Williams.
Tuesday, October 3.
- AUD: RBA rate decision
- Bitcoin: Former FTX Chief Executive to face trial
- USD: Atlanta Fed President Raphael Bostic’s speech
Wednesday, October 4
- NZD: RBNZ rate decision
- EUR: Eurozone S&P Global Services PMI,…