Gold FX Empire

Daily Gold News: Monday, June 6 – Gold Price Came Back to the $1,850 Level

Gold Price Recap

The gold futures contract lost 1.13% on Friday, June 3, as it extended its consolidation. On Thursday the market broke slightly above the recent trading range, but on Friday I 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 slightly above the Friday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.1% higher this morning, as it is trading just above the $1,850 level. What about the other precious metals? Silver is 2.1% higher, platinum is 1.4% higher and palladium is 2.1% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Friday’s important Nonfarm Payrolls release has been higher than expected at +390,000. Today we won’t get any new important economic data announcements.

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 6

  • All Day, Eurozone – German Bank Holiday, French Bank Holiday

Tuesday, June 7

  • 12:30 a.m. Australia – Cash Rate, RBA Rate Statement
  • 8:30 a.m. U.S. – Trade Balance
  • 3:00 p.m. U.S. – Consumer Credit m/m

For a look at all of today’s economic events, check out our economic calendar.

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

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Disclaimer

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