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Daily Gold News: Monday, June 29 - Gold Closer to Long-Term High Again
June 29, 2020, 9:01 AMThe gold futures contract gained 0.55% on Friday, as it continued to trade along Wednesday's new yearly high of $1,796.10. The market has extended 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 its local highs, as we can see on the daily chart:
Gold is trading 0.3% lower this morning, as it is further extending the short-term consolidation. What about the other precious metals? Silver gained 0.78% on Friday and today it is 0.1% lower. Platinum gained 2.07% on Friday and today it is 1.0% higher, palladium gained 2.67% on Friday and today it is up 0.9%. So precious metals are mixed on Monday's morning.
On Friday we got the Personal Spending/ Personal Income numbers along with Core PCE Price Index and the Revised UoM Consumer Sentiment number. The data have been generally as expected. This week we will get the important monthly jobs data on Thursday preceded by Wednesday's ADP Non-Farm Employment Change release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Monday, June 29
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 9:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
- All Day, Eurozone - Italian Bank Holiday
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
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: Friday, June 26 - Gold Retracing From Wednesday's High
June 26, 2020, 7:50 AMThe gold futures contract lost 0.25% on Thursday, as it retraced some of the recent advance. The market got very close to $1,800 mark on Wednesday but then it has reversed lower. The recent economic data releases didn't bring any new surprises for the financial markets. However, gold broke above its local highs, as we can see on the daily chart:
Gold is unchanged this morning, as it is continues to fluctuate along Wednesday's and yesterday's closing prices. What about the other precious metals? Silver gained 1.27% on Thursday and today it is 0.3% higher. Platinum lost 0.24% and today it is trading 0.3% lower. Palladium lost 2.30% yesterday and today it is up 0.8%. So precious metals extend their short-term consolidation today.
Financial markets are waiting for today's U.S. economic data releases. We will get the Personal Spending/ Personal Income numbers along with Core PCE Price Index at 8:30:0 a.m. Then the Revised UoM Consumer Sentiment number will be released at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, June 26
- 8:30 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m
- 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
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, June 25 - Gold Backing Off New Multi-Year High
June 25, 2020, 7:28 AMThe gold futures contract lost 0.39% on Wednesday after reaching new long-term high of $1,796.10. The market got very close to $1,800 mark but then it has retraced the whole intraday advance. The recent economic data releases didn't bring any new surprises for the financial markets. However, gold broke above the recent highs, as we can see on the daily chart:
Gold is 0.1% higher this morning, as it is fluctuating along yesterday's closing price. What about the other precious metals? Silver lost 2.18% on Wednesday and today it is 0.6% higher. Platinum lost 4.94% and today it's up 0.8%. Palladium lost 3.21% yesterday and today it is 0.2% higher. So precious metals are mixed following yesterday's declines.
Financial markets went risk-off yesterday's despite better-than-expected German ifo Business Climate number release. Investors will wait for series of the U.S. economic data releases today. We will get the GDP number, Unemployment Claims and Durable Goods Orders at 8:30 a.m. The final GPD is expected to be at -5.0%. And the Unemployment Claims are set to remain well above 1 million.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, June 25
- 7:30 a.m. Eurozone - ECB Monetary Policy Meeting Accounts
- 8:30 a.m. U.S. - Final GDP q/q, Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Preliminary Wholesale Inventories m/m, Goods Trade Balance
- 4:30 p.m. U.S. - Bank Stress Test Results
- All Day, China - Bank Holiday
Friday, June 26
- 8:30 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m
- 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
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: Wednesday, June 24 - Gold Crawling Higher but Precious Metals Mixed
June 24, 2020, 8:29 AMThe gold futures contract gained 0.88% on Tuesday, as it further extended its last Friday's advance. The market got closer to $1,800 mark. Last week's Powell's testimonies on Wednesday, Thursday and his Friday's speech didn't bring any new surprises for the financial markets. But gold broke above the recent local highs, as we can see on the daily chart:
Gold is 0.2% higher this morning, as it is slightly extending the advance. What about the other precious metals? Silver gained 0.90% on Tuesday and today it is 1.0% lower. Platinum gained 0.32% and today it is down 2.2%. Palladium gained 0.46% yesterday and today it is trading 0.4% higher. So precious metals are basically mixed today.
Today's German ifo Business Climate number has been slightly better than expected. But financial markets are going risk-off this morning, as stocks are set to open 0.3-0.8% lower at 9:30 a.m. Investors will wait for series of economic data releases tomorrow.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Wednesday, June 24
- 4:00 a.m. Eurozone - German ifo Business Climate
- All Day, China - Bank Holiday
Thursday, June 25
- 7:30 a.m. Eurozone - ECB Monetary Policy Meeting Accounts
- 8:30 a.m. U.S. - Final GDP q/q, Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Preliminary Wholesale Inventories m/m, Goods Trade Balance
- 4:30 p.m. U.S. - Bank Stress Test Results
- All Day, China - 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, June 23 - Gold Close to Yearly High Again
June 23, 2020, 8:02 AMThe gold futures contract gained 0.76% on Monday, as it extended its Friday's advance of 1.3%. The market has remained above the price level of $1,750. Last week's Powell's testimonies on Wednesday, Thursday and his Friday's speech didn't bring any new surprises for the financial markets. But gold has got very close to its medium-term highs, as we can see on the daily chart
Gold is 0.3% higher this morning, as it is slightly extending its recent advance. What about the other precious metals? Silver gained 0.31% on Monday and today it is 1.1% higher. Platinum gained 1.98% and today it is up 0.7%. Palladium gained 1.77% on Monday and today it is trading 0.2% lower. So precious metals generally extend their short-term uptrend today.
Today's Eurozone PMI numbers releases have been better-than-expected. And the markets will now await the U.S. Flash Manufacturing PMI/ Flash Services PMI releases at 9:45 a.m. Then we will get the New Home Sales along with the Richmond Manufacturing Index numbers at 10:00 a.m.
The U.S. Flash PMI numbers for June are expected to get back to their neutral values of around 50. Last month they were at 38-40.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, June 23
- 3:15 a.m. Eurozone - French Flash Services PMI, French Flash Manufacturing PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - New Home Sales, Richmond Manufacturing Index
Wednesday, June 24
- 4:00 a.m. Eurozone - German ifo Business Climate
- All Day, China - 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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