Gold Price Recap
The gold futures contract gained 0.46% on Tuesday, June 7, as it continued to fluctuate within a short-term consolidation. 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 within a consolidation, as we can see on the daily chart (the chart includes today’s intraday data):
Precious Metals Price Action
Gold is 0.2% lower this morning, as it is trading along the $1,850 level again. What about the other precious metals? Silver is 1.5% lower, platinum is 0.9% lower and palladium is 1.7% lower. So the main precious metals’ prices are lower this morning.
Fundamentals and Economic News Schedule
Today we will get Final Wholesale Inventories release at 8:30 a.m. and tomorrow there will be the ECB Monetary Policy Statement release.
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.
Wednesday, June 8
- 10:00 a.m. U.S. – Final Wholesale Inventories m/m
- 1:01 p.m. U.S. – 10-y Bond Auction
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
For a look at all of today’s economic events, check out our economic calendar.
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