Daily Gold News: Thursday, July 22 – Gold Below $1,800 Again

The gold futures contract lost 0.44% on Wednesday, as it extended its consolidation along $1,800 price level after retracing some of the recent rally. A week ago on Thursday, the market has reached a local high of $1,835. Since then it has been consolidating along the price level of $1,800. This morning gold is trading slightly below that level, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.5% lower, as it is trading along this week’s local lows. What about the other precious metals? Silver is 0.9% lower, platinum is 0.2% higher and palladium is 0.9% higher. So precious metals’ prices are mixed this morning.

Yesterday we didn’t get any new important economic data announcements. Today the markets are waiting for the European Central Bank’s Monetary Policy Statement release at 7:45 a.m. We will also have the U.S. Unemployment Claims and Existing Home Sales releases, among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Thursday, July 22

• 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
• 8:30 a.m. U.S. – Unemployment Claims
• 8:30 a.m. Eurozone – ECB Press Conference
• 10:00 a.m. U.S. – Existing Home Sales, CB Leading Index m/m
• All Day, Japan – Bank Holiday

Friday, July 23

• 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
• All Day, Eurozone – ECOFIN Meetings

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection 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.