The gold futures contract gained 0.41% on Monday, as it extended its last Friday’s advance of 0.5%. The market has retraced most of its relatively flat correction from new long-term high of around $1,830. The financial markets have been going risk-on following series of better-than-expected economic data and quarterly corporate earnings releases. Last month gold broke above medium-term local highs in June, as we can see on the daily chart:
Gold is 0.5% higher this morning, as it is extending the uptrend. What about the other precious metals? Silver gained 2.17% on Monday and today it is gaining another 3.3%. Platinum gained 0.98% and today it is 1.9% higher. Palladium gained 1.82% and today it is gaining 3.8%. So precious metals are extending their uptrend this morning.
Last week’s Friday’s economic data releases have been mixed. Yesterday we didn’t get any important economic data. However, the markets are reacting on the U.S. quarterly corporate earnings releases this week.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, July 21
- 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
Wednesday, July 22
- 8:30 a.m. Canada – CPI m/m
- 9:00 a.m. U.S. – HPI m/m
- 10:00 a.m. U.S. – Existing Home Sales
- All Day, Japan – Bank Holiday
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For a look at all of today’s economic events, check out our economic calendar.
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All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.