Why a calendar built around gold?
Gold is priced in dollars and reacts strongly to US interest rates. Most of the releases that move the metal are therefore US data, or events likely to change expectations for Fed policy. A general calendar shows hundreds of lines; a gold-focused one highlights those that really matter for XAU/USD and helps you prepare your session.
The releases to watch first
| Category | Examples | Why gold is sensitive to it |
|---|---|---|
| Monetary policy | Fed decisions and press conferences, meeting minutes, central bank speeches | They steer policy rates and rate expectations |
| Inflation | Consumer price index (CPI), personal consumption expenditures (PCE), producer prices | It shapes the path of rates and gold’s appeal as a hedge |
| Employment | Monthly non-farm payrolls report, weekly jobless claims | A strong or weak labour market changes expectations for the Fed |
| Activity and growth | GDP, ISM indices, retail sales | They feed the economic outlook and yields |
| Other events | Debt auctions, major political speeches | They can move yields or the dollar |
The guide on economic releases and gold covers each of these families and their typical sensitivity.
How to read forecast, previous and actual
Each calendar line carries three values. The previous is the figure for the earlier period (sometimes revised). The forecast is the analyst consensus. The actual is the real value, known at release time.
What moves the market is not the absolute level of the number but its surprise: the gap between actual and forecast. A figure in line with consensus rarely moves the price. One example of the mechanism: inflation higher than expected can strengthen the idea that the Fed will keep rates high, which supports the dollar and yields and often weighs on gold. The reverse holds for a softer number. This pattern is common but not systematic, because the market also reacts to revisions, to details inside the report and to the context of the moment.
The XAU Terminal impact reading
In XAU Terminal, each calendar release can come with an impact reading: using simple rules that link the gap to consensus to a typical direction for gold, the terminal indicates whether the figure looks rather favourable, unfavourable or neutral for the metal. This reading is indicative: it is neither a forecast nor a signal. The market can react the other way, especially when the gap is small or other information arrives at the same time.
Release times and preparation
Calendar times are shown in Paris time. Many US figures come out in the early or mid afternoon, Paris time; those times can shift by an hour for a few weeks each year, because the US and Europe do not change clocks on the same dates. Before a session, identify the high-impact releases, note their time, and keep in mind that spreads can widen and volatility rise around them.