Gold Price Recap
The gold futures contract gained 1.23% on Friday, June 10, after going down to the daily low of $1,826.50 on higher-than-expected Consumer Price Index release volatility. The market broke slightly above the recent trading range, as it got closer to the $1,900 price level again. However, this morning gold is retracing its Friday’s advance, as we can see on the daily chart (the chart includes today’s intraday data):
Precious Metals Price Action
Gold is 0.8% lower this morning, as it is trading along the $1,850 level. What about the other precious metals? Silver is 1.9% lower, platinum is 2.9% lower and palladium is 2.0% lower. So the main precious metals’ prices are lower this morning.
Fundamentals and Economic News Schedule
Friday’s important Consumer Price Index release has been higher than expected at +1.0% m/m. Today we won’t get any new important economic data releases. Investors will now wait for Wednesday’s FOMC Statement release.
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 the next two trading days.
Monday, June 13
- 2:00 p.m. U.S. – FOMC Member Brainard Speech
Tuesday, June 14
- 5:00 a.m. Eurozone – German ZEW Economic Sentiment
- 6:00 a.m. U.S. – NFIB Small Business Index
- 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
- 10:00 p.m. China – Industrial Production y/y, Retail Sales y/y
- Tentative, U.S. – IBD/TIPP Economic Optimism
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