Daily Gold News: Wednesday, Apr. 20 – Gold Price is Close to $1,950 Level Again

Gold Price Recap

The gold futures contract lost 1.38% on Tuesday, Apr. 19, as it retraced its recent advances after bouncing from the $2,000 price level. Gold reacted to the streghtening U.S. dollar, among other factors. This morning the yellow metal is trading close to the $1,950 price level again, 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 its yesterday’s closing price. What about the other precious metals? Silver is also 0.2% higher, platinum is 1.1% lower and palladium is 1.5% higher. So the main precious metals’ prices are slightly higher this morning.

Gold Fundamental Analysis and Economic News Schedule

Yesterday’s U.S. Building Permits, Housing Starts releases have been better than expected. Today we will get the Existing Home Sales and Beige Book releases.

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.

Wednesday, April 20

• 8:30 a.m. Canada – CPI m/m
• 10:00 a.m. U.S. – Existing Home Sales
• 2:00 p.m. U.S. – Beige Book
• All Day – IMF Meetings

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
• 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

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

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