Gold FX Empire

Daily Gold News: Monday, June 13 – Gold Price Retraces Its Friday’s Rally

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

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

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