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Daily Gold News: Tuesday, July 14 - Gold's Short-Term Consolidation Continues
July 14, 2020, 7:55 AMThe gold futures contract gained 0.68% on Monday, as it retraced some of late last week's downward correction following Wednesday's advance to new long-term high of $1,829.80. The recent economic data releases have been better than expected and financial markets went risk-on last week. But yesterday the stock market has reversed its intraday rally before closing lower. Gold broke above medium-term local highs in June, as we can see on the daily chart:
Gold is 0.4% lower this morning, as it is extending a short-term consolidation along $1,800 price level. What about the other precious metals? Silver gained 3.86% on Monday and today it is trading 0.4% lower. Platinum gained 2.02% yesterday and today it is unchanged, palladium gained 2.33% and today it is 0.7% higher. So precious metals are mixed this morning.
Investors will now wait for today's economic data releases. We will get the U.S. Consumer Price Index at 8:30 a.m. Then in the evening Monetary Policy Statement from Bank of Japan will be released.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, July 14
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 6:00 a.m. U.S. - NFIB Small Business Index
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- Tentative, Japan - BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate
- All Day, Eurozone - French Bank Holiday
Wednesday, July 15
- 8:30 a.m. U.S. - Empire State Manufacturing Index, Import Prices m/m
- 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
- 10:00 a.m. Canada - BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
- 2:00 p.m. U.S. - Beige Book
- 9:30 p.m. Australia - Employment Change, Unemployment Rate
- 10:00 p.m. China - GDP q/y
Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits. -
Daily Gold News: Monday, July 13 - Gold Remains Above $1,800
July 13, 2020, 7:52 AMThe gold futures contract lost 0.11% on Friday, as the market slightly extended its short-term downward correction following Wednesday's advance to new long-term high of $1,829.80. The recent economic data releases have been better than expected and financial markets went risk-on late last week. Gold broke above medium-term local highs in June, as we can see on the daily chart:
Gold is 0.5% higher this morning, as it is trading along Friday's daily high. What about the other precious metals? Silver gained 0.48% on Friday and today it is trading 2.5% higher. Platinum lost 0.12% on Friday and today it is 4.2% higher, palladium gained 1.59% and today it is 0.8% higher. So precious metals are advancing this morning.
Friday's Producer Price Index release has come out negative at -0.2% and it's been lower vs. the expectations of +0.4%. Today we will get a speech from the Fed Member Williams at 11:30 a.m. and economic data from China later in the day.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Monday, July 13
- 11:30 a.m. U.S. - FOMC Member Williams Speech
- Tentative, China - Trade Balance, USD-Denominated Trade Balance
Tuesday, July 14
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 6:00 a.m. U.S. - NFIB Small Business Index
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- Tentative, Japan - BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate
- All Day, Eurozone - French Bank Holiday
Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits. -
Daily Gold News: Thursday, July 2 - Gold Going Sideways Ahead of Data, Long Holiday Weekend
July 2, 2020, 8:11 AMThe gold futures contract lost 1.14% on Wednesday after reaching new long-term high of $1,807.70. The market has retraced its Tuesday's advance following intraday reversal and a breakdown below $1,800 mark. The recent economic data releases didn't bring any new surprises for the financial markets. However, gold broke above medium-term local highs, as we can see on the daily chart:
Gold is 0.2% higher this morning, as it retraces some of yesterday's decline. What about the other precious metals? Silver lost 2.25% on Wednesday and today it is trading 0.2% lower. Platinum lost 1.97% yesterday and today it is 0.4% higher, palladium lost 1.84% and today it's 0.1% lower. So precious metals are going sideways this morning.
Yesterday's ADP Non-Farm Employment Change number came out slightly worse than expected. And the ISM Manufacturing PMI release has been better than expected. The markets are now waiting for today's U.S. monthly jobs data release at 8:30 a.m. We will likely see an increased volatility following the announcement.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, July 2
- 5:00 a.m. Eurozone- PPI m/m, Unemployment Rate
- 8:30 a.m. U.S. - Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Unemployment Claims, Trade Balance
- 10:00 a.m. U.S. - Factory Orders m/m
- 9:45 p.m. China - Caixin Services PMI
Friday, July 3
- 3:50 a.m. Eurozone - French Final Services PMI
- 3:55 a.m. Eurozone - German Final Manufacturing PMI
- 4:00 a.m. Eurozone - German Final Manufacturing PMI
- All Day, U.S. - Bank Holiday
Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits. -
Daily Gold News: Tuesday, July 1 - Gold at $1,800 Mark
July 1, 2020, 9:15 AMThe gold futures contract gained 1.08% on Tuesday, as it extended its medium-term uptrend following breaking above last week's Wednesday's local high. The market has reached new long-term high of $1,804.0 yesterday. The recent economic data releases didn't bring any new surprises for the financial markets. However, gold broke above medium-term local highs, as we can see on the daily chart:
Gold is unchanged this morning, as it remains close to yesterday's daily close. What about the other precious metals? Silver gained 3.17% on Tuesday and today it is trading 0.5% higher. Platinum gained 2.78% yesterday and today it is 1.5% lower, palladium gained 1.75% on Tuesday and today it's 1.3% lower. So precious metals are mixed this morning.
Tuesday's Consumer Confidence release was better than expected. Then stocks were advancing following Fed Chair Powell's testimony. And today's ADP Non-Farm Employment Change number came out slightly worse than expected. Investors will now wait for the ISM Manufacturing PMI release at 10:00 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Wednesday, July 1
- 3:50 a.m. Eurozone - French Final Manufacturing PMI
- 3:55 a.m. Eurozone - German Final Manufacturing PMI
- 4:00 a.m. Eurozone - Final Manufacturing PMI
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- All Day, Canada - Bank Holiday
Thursday, July 2
- 5:00 a.m. Eurozone- PPI m/m, Unemployment Rate
- 8:30 a.m. U.S. - Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Unemployment Claims, Trade Balance
- 10:00 a.m. U.S. - Factory Orders m/m
- 9:45 p.m. China - Caixin Services PMI
Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits. -
Daily Gold News: Tuesday, June 30 - More Short-Term Uncertainty Ahead of Economic Data
June 30, 2020, 7:33 AMThe gold futures contract gained 0.05% on Monday, as it extended its short-term consolidation along last Wednesday's new yearly high of $1,796.10. The market continued its long-term uptrend last week. The recent economic data releases didn't bring any new surprises for the financial markets. However, gold broke above the medium-term local highs, as we can see on the daily chart:
Gold is trading 0.2% lower this morning, as it is fluctuating within a short-term consolidation. What about the other precious metals? Silver gained 0.16% on Monday and today it is 0.2% lower. Platinum gained 1.09% yesterday and today it is unchanged, palladium gained 2.04% on Monday and today it's down 0.1%. So precious metals extend their short-term fluctuations this morning.
Yesterday's economic data releases from China have been slightly better than expected. The PMI numbers are above 50 mark again. Today we will get the important Consumer Confidence release at 10:00 a.m. and then at 12:30 p.m. the Fed Chair Powell will testify. But investors will be waiting for Thursday's monthly jobs data release. And tomorrow we will get the ADP Non-Farm Employment Change along with the ISM Manufacturing PMI numbers.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, June 30
- 8:30 a.m. Canada - GDP m/m
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - CB Consumer Confidence
- 12:30 a.m. U.S. - Fed Chair Powell Testimony
- 2:00 p.m. U.S. - FOMC Member Kashkari Speech
- 9:45 p.m. China - Caixin Manufacturing PMI
Wednesday, July 1
- 3:50 a.m. Eurozone - French Final Manufacturing PMI
- 3:55 a.m. Eurozone - German Final Manufacturing PMI
- 4:00 a.m. Eurozone - Final Manufacturing PMI
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- All Day, Canada - Bank Holiday
Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.
Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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