The gold futures contract lost 0.89% on Friday, as it extended its short-term consolidation following the rebound from around $1,850. On June 1 gold price was the highest since early January. In April the market has bounced from the support level marked by March 8 local low of $1,663.30. Since then it has been advancing. This morning gold is trading at its previous local low, as we can see on the daily chart (the chart includes today’s intraday data):
Today gold is 1.3% lower, as it is extending Friday’s decline. What about the other precious metals? Silver is 0.8% lower, platinum is 0.2% higher and palladium is 0.5% lower today. So precious metals are lower this morning.
Friday’s Preliminary UoM Consumer Sentiment release has been better than expected at 86.4. Today we won’t get any new important economic data announcements. The markets will be waiting for tomorrow’s Retail Sales release and the important Wednesday’s FOMC Statement release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Monday, June 14
- No important economic data releases
Tuesday, June 15
- 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, PPI m/m, Core PPI m/m, Empire State Manufacturing Index
- 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
- 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
For a look at all of today’s economic events, check out our economic calendar.
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