Gold Bar FX Empire

Daily Gold News: Thursday, June 9 – Gold Price Remains Close to $1,850

Gold Price Recap

The gold futures contract gained 0.24% on Wednesday, June 8, as it extended a short-term consolidation along the $1,850 level. Last week on Thursday the market broke slightly above the recent trading range, but on Friday it 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 still trading close to the $1,850 level, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.3% lower this morning, as it is trading along the $1,850 level. What about the other precious metals? Silver is 0.5% lower, platinum is 2.5% lower and palladium is 0.1% higher. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Yesterday’s Final Wholesale Inventories release has been slightly higher than expected at +2.2%. Today we will get the important ECB Monetary Policy Statement release at 7:45 a.m. and the Unemployment Claims release at 8:30 a.m., among others.

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 9

  • 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
  • 8:30 a.m. U.S. – Unemployment Claims
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 11:00 a.m. Canada – BOC Governor Macklem Speech
  • 1:01 p.m. U.S. – 30-y Bond Auction

Friday, June 10

  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate
  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
  • 2:00 p.m. U.S. – Federal Budget Balance

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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