Daily Gold News: Thursday, July 22 – Gold Below $1,800 Again

The gold futures contract lost 0.44% on Wednesday, as it extended its consolidation along $1,800 price level after retracing some of the recent rally. A week ago on Thursday, the market has reached a local high of $1,835. Since then it has been consolidating along the price level of $1,800. This morning gold is trading slightly below that level, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.5% lower, as it is trading along this week’s local lows. What about the other precious metals? Silver is 0.9% lower, platinum is 0.2% higher and palladium is 0.9% higher. So precious metals’ prices are mixed this morning.

Yesterday we didn’t get any new important economic data announcements. Today the markets are waiting for the European Central Bank’s Monetary Policy Statement release at 7:45 a.m. We will also have the U.S. Unemployment Claims and Existing Home Sales releases, among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Thursday, July 22

  • 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
  • 8:30 a.m. U.S. – Unemployment Claims
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 10:00 a.m. U.S. – Existing Home Sales, CB Leading Index m/m
  • All Day, Japan – Bank Holiday

Friday, July 23

  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
  • All Day, Eurozone – ECOFIN Meetings

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

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

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