Gold price broke above its recent trading range, reaching $2,375 level.
The gold futures contract gained 0.94% on Thursday, June 20, as it broke above the recent trading range on economic data, stock market’s uncertainty. Gold retraced some more of its previous Thursday’s sell-off, reaching the $2,375 level yesterday. In late May, it fluctuated after retreating from its May 20 record high of $2,454.20.
In mid-February, gold was the lowest since mid-December, after breaking below local lows from January on consumer inflation release. Since then, it gained over $450.
This morning, gold is trading above its yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.4% higher, as it is trading along the $2,380 level. What about the other precious metals? Silver is 1.0% lower, platinum is 1.3% higher and palladium is 2.2% higher. So, the main precious metals’ prices are mixed this morning.
Yesterday’s Unemployment Claims release has been slightly higher than expected at 238,000. Today, we will get the important Flash Manufacturing PMI and Flash Services PMI releases at 9:45 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Friday, June 21
- 2:00 a.m. U.K. - Retail Sales m/m
- 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - Existing Home Sales, CB Leading Index m/m
- All Day, Eurozone - ECOFIN Meetings
Monday, June 24
- 4:00 a.m. Eurozone - German ifo Business Climate
- 2:00 p.m. U.S. - FOMC Member Daly Speech
Paul Rejczak
Stock Trading Strategist