Daily Gold News: Thursday, Apr. 21 – Gold Trades Along the $1,950 Price Level

Gold Price Recap

The gold futures contract lost 0.17% on Wednesday, Apr. 20, as it fluctuated following Tuesday’s decline of 1.4%. Gold retraced its recent advances after bouncing from the $2,000 price level. The market reacted to the streghtening U.S. dollar, among other factors. This morning the yellow metal is trading closer to the local lows, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.8% lower this morning, as it is trading slightly below the $1,950 price level. What about the other precious metals? Silver is 2.1% lower, platinum is 1.3% lower and palladium is unchanged. So the main precious metals’ prices are lower this morning.

Gold Fundamental Analysis and Economic News Schedule

Yesterday’s Existing Home Sales release has been as expected at 5.77 million. Today we will get the Unemployment Claims and Philly Fed Manufacturing Index releases. We will also have speeches from the Fed chair Powell.

The markets will 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.

Thursday, April 21

• 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index
• 10:00 a.m. U.S. – CB Leading Index m/m
• 11:00 a.m. U.S. – Fed Chair Powell Speech
• 12:30 a.m. U.K. – BOE Governor Bailey Speech
• 1:00 p.m. U.S. – Fed Chair Powell Speech
• 1:00 p.m. Eurozone – ECB President Lagarde Speech
• All Day – IMF Meetings

Friday, April 22

• 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 9:00 a.m. Eurozone – ECB President Lagarde Speech
• 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
• 10:30 a.m. U.K. – BOE Governor Bailey Speech
• All Day – IMF Meetings

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

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