Gold price extends its Thursday’s rebound; inflation data in focus.
The gold futures contract gained 1.01% on Thursday, June 27, as it rebounded from the $2,300 level following recent declines towards the early June lows. Last Friday, the market dipped, and this Wednesday, it extended declines. Overall, gold keeps fluctuating within a consolidation following a retreat from its May 20 record high of $2,454.20.
This morning, gold is extending its rebound, 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 slightly below the $2,350 level. What about the other precious metals? Silver is 1.5% higher, platinum is 2.4% higher and palladium is 3.9% higher. So, the main precious metals’ prices are higher this morning.
Yesterday’s GDP release has been as expected at +1.4% q/q, and the Unemployment Claims release has been slightly lower than expected at 233,000. Today, we will get the important Core PCE Price Index number at 8:30 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 28
- 3:00 a.m. Eurozone - Spanish Flash CPI y/y
- 6:00 a.m. U.S. - FOMC Member Barkin Speech
- 8:30 a.m. U.S. - Core PCE Price Index m/m, Personal Income m/m, Personal Spending m/m
- 8:30 a.m. Canada - GDP m/m
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- 11:00 a.m. U.S. - Fed Monetary Policy Report
- 12:00 p.m. U.S. - FOMC Member Bowman Speech
Monday, July 1
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, ISM Manufacturing Prices, Construction Spending m/m
- 3:00 p.m. Eurozone - ECB President Lagarde Speech
- All Day, Eurozone - German Preliminary CPI m/m
- All Day, Canada - Bank Holiday
Paul Rejczak
Stock Trading Strategist