Gold FX Empire

Daily Gold News: Thursday, June 16 – Volatility Following Yesterday’s FOMC Release

Gold Price Recap

The gold futures contract gained 0.34% on Wednesday, June 15, as it fluctuated following the important FOMC’s release. Yesterday’s rate hike led to an increased volatility, but the market extended its short-term consolidation above the $1,800 price level. This morning gold is trading within its yesterday’s daily range, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.7% lower this morning, as it is retracing some of the overnight rebound. What about the other precious metals? Silver is 1.2% lower, platinum is 1.2% lower and palladium is 0.1% higher. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Yesterday’s Retail Sales release has been lower than expected at -0.3% m/m. Today we will get the Unemployment Claims, Philly Fed Manufacturing Index, Building Permits and Housing Starts releases at 8:30 a.m.

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.

Thursday, June 16

  • 7:00 a.m. U.K. – Monetary Policy Summary, Official Bank Rate, MPC Official Bank Rate Votes
  • 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims, Building Permits, Housing Starts
  • Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate
  • All Day, Eurozone – Eurogroup Meetings

Friday, June 17

  • 8:45 a.m. U.S. – Fed Chair Powell Speech
  • 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. – CB Leading Index m/m
  • Tentative, Japan – BOJ Press Conference
  • All Day, Eurozone – ECOFIN Meetings

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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