Gold Price Recap
The gold futures contract lost 0.20% on Thursday, June 9, as it continued to trade along the $1,850 level and still within a consolidation. Last week on Thursday the market broke slightly above the recent trading range, but on Friday it came back closer to the $1,850 following the U.S. monthly jobs data release. In mid-May gold fell below the $1,800 level on strengthening U.S. dollar, Fed’s monetary policy tightening fears. This morning yellow metal is trading below the $1,850 level, as we can see on the daily chart (the chart includes today’s intraday data):
Precious Metals Price Action
Gold is 0.3% lower this morning, as it is trading within a consolidation. What about the other precious metals? Silver is 0.6% lower, platinum is 0.3% lower and palladium is 0.1% lower. So the main precious metals’ prices are lower this morning.
Fundamentals and Economic News Schedule
Yesterday’s Final Unemployment Claims release has been higher than expected at 229,000. Today we will get the important Consumer Price Index release at 8:30 a.m., among others.
The markets will still continue to react to the ongoing Russia-Ukraine war news.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today.
Friday, June 10
- 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
- 8:30 a.m. Canada – Employment Change, Unemployment Rate
- 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
- 2:00 p.m. U.S. – Federal Budget Balance
For a look at all of today’s economic events, check out our economic calendar.
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