Gold Price Recap
The gold futures contract lost 0.35% on Monday, June 6, as it further extended a short-term consolidation. 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 trading along 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 0.5% higher this morning, as it is trading just above the $1,850 level again. What about the other precious metals? Silver is 0.1% higher, platinum is 0.6 % lower and palladium is 0.3% higher. So the main precious metals’ prices are higher this morning.
Fundamentals and Economic News Schedule
Today we will get the Trade Balance release 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.
Tuesday, June 7
- 12:30 a.m. Australia – Cash Rate, RBA Rate Statement
- 8:30 a.m. U.S. – Trade Balance
- 3:00 p.m. U.S. – Consumer Credit m/m
Wednesday, June 8
- 10:00 a.m. U.S. – Final Wholesale Inventories m/m
- 1:01 p.m. U.S. – 10-y Bond Auction
For a look at all of today’s economic events, check out our economic calendar.
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