Gold Price Recap
The gold futures contract lost 2.09% on Tuesday, July 5, as it broke below its previous lows following U.S. dollar rally. Yesterday’s daily low was at 1,763.00 and this morning gold is trading even lower after breaking below the 1,760 price level, 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 $1,760 level. What about the other precious metals? Silver is 0.1% lower, platinum is 0.7% lower and palladium is 0.8% higher. So the main precious metals’ prices are slightly lower this morning.
Fundamentals and Economic News Schedule
Yesterday’s Factory Orders number release has been higher than expected at +1.6%. Today we will get the Services PMI, JOLTS Job Openings and FOMC Meeting Minutes releases.
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, July 6
5:00 a.m. Eurozone – EU Economic Forecasts
9:00 a.m. U.S. – FOMC Member Williams Speech
9:45 a.m. U.S. – Final Services PMI
10:00 a.m. U.S. – JOLTS Job Openings, ISM Services PMI
2:00 p.m. U.S. – FOMC Meeting Minutes
Thursday, July 7
7:30 a.m. U.S. – Challenger Job Cuts y/y
8:15 a.m. U.S. – ADP Non-Farm Employment Change
8:30 a.m. U.S. – Unemployment Claims, Trade Balance
1:00 p.m. U.S. – FOMC Member Bullard Speech, FOMC Member Waller Speech
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This article was originally posted on FX Empire