Gold at New Record but Precious Metals Mixed
Gold at New Record but Precious Metals Mixed by PAUL REJCZAK for Sunshine Profits
The gold futures contract reached another new record high of $1,987.30 on Thursday, as it slightly extended its recent advance again. The market gained 0.69%, but the closing price was $20 below the daily high. Gold reached the highest in history following U.S. dollar sell-off, among other factors.
Gold is 0.9% higher this morning as it is trading along the new record high. What about the other precious metals? Silver lost 3.94% on Thursday and today it is 2.1% higher. Platinum lost 4.79% and today it is 0.3% lower. Palladium lost 5.59% on Thursday and today it’s 1.0% lower. So precious metals are mixed this morning.
Yesterday’s U.S. Advance GDP number has been slightly better than expected. However, the economy contracted by a stunning 32.9% in the second quarter. The Unemployment Claims number surpassed 1.4 million again.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, July 31
- 8:30 a.m. U.S. – Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Employment Cost Index q/q
- 8:30 a.m. Canada – GDP m/m, IPPI m/m, RMPI m/m
- 9:45 a.m. U.S. – Chicago PMI
- 10:00 a.m. U.S. – Revised UoM Consumer Sentiment
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