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Daily Gold News: Wednesday, July 6 – Gold Price at New Medium-Term Lows

·3 minuto per la lettura

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

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

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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