Daily Gold News: Friday, July 23 – Gold Still at $1,800

The gold futures contract gained 0.11% on Thursday, as it continued to fluctuate along $1,800 price level after retracing some of the recent rally. Last week on Thursday, the market has reached a local high of $1,835. Since then it has been consolidating along the price level of $1,800. This morning gold is trading at that level again, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.5% lower, as it continues to trade along this week’s local lows. What about the other precious metals? Silver is 1.0% lower, platinum is 1.6% lower and palladium is 0.4% lower. So precious metals’ prices are lower this morning. They are following strengthening U.S. dollar, as the EURUSD currency pair remains below 1.18 mark.

Yesterday’s Unemployment Claims release has been worse than expected at 419,000 and the Existing Home Sales release has been as expected at 5.86 million. Today we will get the U.S. Flash Manufacturing PMI, Flash Services PMI numbers at 9:45 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, July 23

  • 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

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.