Gold Price Close To Yearly High Again
Gold Price Close To Yearly High Again by Paul Rejczak for Sunshine Profits
The gold futures contract gained 0.76% on Monday, as it extended its Friday’s advance of 1.3%. The market has remained above the price level of $1,750. Last week’s Powell’s testimonies on Wednesday, Thursday and his Friday’s speech didn’t bring any new surprises for the financial markets. But gold has got very close to its medium-term highs, as we can see on the daily chart.
Gold is 0.3% higher this morning, as it is slightly extending its recent advance. What about the other precious metals? Silver gained 0.31% on Monday and today it is 1.1% higher. Platinum gained 1.98% and today it is up 0.7%. Palladium gained 1.77% on Monday and today it is trading 0.2% lower. So precious metals generally extend their short-term uptrend today.
Today’s Eurozone PMI numbers releases have been better-than-expected. And the markets will now await the U.S. Flash Manufacturing PMI/ Flash Services PMI releases at 9:45 a.m. Then we will get the New Home Sales along with the Richmond Manufacturing Index numbers at 10:00 a.m.
The U.S. Flash PMI numbers for June are expected to get back to their neutral values of around 50. Last month they were at 38-40.
Below you will find our Gold, Silvr and Mining Stocks economic news schedule for the next two trading days:
Tuesday, June 23
- 3:15 a.m. Eurozone – French Flash Services PMI, French Flash Manufacturing PMI
- 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
- 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. – New Home Sales, Richmond Manufacturing Index
Wednesday, June 24
- 4:00 a.m. Eurozone – German ifo Business Climate
- All Day, China – Bank Holiday
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