The gold futures contract gained 0.83% on Wednesday, as it broke above a short-term consolidation along $1,800 price level. The market has retraced some more of its $100 decline in June. This morning gold is trading along yesterday’s daily close, as we can see on the daily chart (the chart includes today’s intraday data):
Today gold is 0.2% lower, as it is trading slightly above yesterday’s closing price. What about the other precious metals? Silver is unchanged, platinum is 0.7 % higher and palladium is 0.9% lower. So precious metals’ prices are mixed this morning.
Yesterday’s Producer Price Index release has been higher than expected at +1.0% vs. the expected +0.6%. Today we will get the Unemployment Claims and Industrial production releases. We will also get the Fed Chair Powell testimony at 9:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, July 15
- 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index, Empire State Manufacturing Index, Import Prices m/m
- 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
- 9:30 a.m. U.S. – Fed Chair Powell Testimony
- 11:00 a.m. U.S. – FOMC Member Evans Speech
- Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate, BOJ Press Conference
Friday, July 16
- 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m
- 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations, Business Inventories m/m
- 4:00 p.m. U.S. – TIC Long-Term Purchases
For a look at all of today’s economic events, check out our economic calendar.
Stock Selection Strategist
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