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Daily Gold News: Friday, June 24 – Gold Remains Below the $1,850 Price Level

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·3-min read
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Gold Price Recap

The gold futures contract lost 0.47% on Thursday, June 23, as it continued to trade within a short-term consolidation along the $1,850 price level. The market went sideways despite last week’s important FOMC’s release. This morning gold is along yesterday’s daily close, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.2% higher this morning, as it is trading along the $1,825 price level. What about the other precious metals? Silver is 0.4% lower, platinum is 0.7% higher and palladium is 1.9% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Yesterday’s Unemployment Claims release has been as expected at 229,000 and Flash Manufacturing PMI/ Flash Services PMI releases have been worse than expected. Today we will get the UoM Consumer Sentiment release at 10:00 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.

Friday, June 24

  • 4:00 a.m. Eurozone – German ifo Business Climate

  • 7:30 a.m. U.S. – FOMC Member Bullard Speech

  • 7:30 a.m. Australia – RBA Governor Lowe Speech

  • 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, New Home Sales

Monday, June 27

  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m

  • 10:00 a.m. U.S. – Pending Home Sales m/m

  • 1:30 p.m. Eurozone – ECB President Lagarde Speech

  • All Day – G7 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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Disclaimer

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.

 

This article was originally posted on FX Empire

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