Daily Gold News: Friday, July 9 – Gold Trading Along $1,800

The gold futures contract lost 0.11% on Thursday, as it extended its short-term consolidation along $1,800 price level. On Tuesday the market broke above the recent consolidation following $100 decline. This morning gold continues to trade sideways, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is virtually flat, as it is trading along yesterday’s closing price. What about the other precious metals? Silver is 0.4% higher, platinum is 1.1% higher and palladium is 0.2% higher. So precious metals’ prices are mixed this morning.

Yesterday’s Unemployment Claims release has been slightly worse than expected at 373,000 vs. expected 345,000. The stock market has retraced some of its recent euphoria-run on Thursday following Wednesday’s FOMC Meeting Minutes release, however gold didn’t react that much.

Today we will get the U.S. Wholesale Inventories number at 10:00 a.m.

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

Friday, July 9

  • 6:00 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate
  • 10:00 a.m. U.S. – Final Wholesale Inventories m/m
  • Tentative, U.S. – Fed Monetary Policy Report
  • All Day – G20 Meetings Day 2

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.

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