Gold extends its consolidation; CB Consumer Confidence number in focus.
The gold futures contract gained 0.57% on Monday, June 24, as it rebounded after the Friday’s decline of 1.6%. On Friday, the market retraced its Thursday’s breakout and it went back closer to the $2,325 level. Overall, gold keeps extending its consolidation following a retreat from the May 20 record high of $2,454.20.
This morning, gold is trading sideways, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.1% higher, as it is trading below the $2,350 level. What about the other precious metals? Silver is 0.3% higher, platinum is 0.6% lower and palladium is also 0.6% lower. So, the main precious metals’ prices are slightly higher this morning.
Today, we will get the important CB Consumer Confidence 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 (EST Timezone).
Tuesday, June 25
- 7:00 a.m. U.S. - FOMC Member Bowman Speech
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y,
- Common CPI y/y, Core CPI m/m
- 9:00 a.m. U.S. - S&P/CS Composite-20 HPI y/y, HPI m/m
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index
- 12:00 p.m. U.S. - FOMC Member Cook Speech
- 2:10 p.m. U.S. - FOMC Member Bowman Speech
- 9:30 p.m. Australia - CPI y/y
Wednesday, June 26
- 10:00 a.m. U.S. - New Home Sales
Paul Rejczak
Stock Trading Strategist