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Daily Gold News: Wednesday, June 15 – Gold Bounces From $1,800 Ahead of the Important FOMC Release

By:
Paul Rejczak
Published: Jun 15, 2022, 11:50 GMT+00:00

Gold is 1.0% higher this morning, as it is trading closer to its yesterday’s daily high. What about the other precious metals?

Gold FX Empire

Gold Price Recap

The gold futures contract lost 1.00% on Tuesday, June 14, as it extended its Monday’s decline of 2.3%. The market retraced last Friday’s advance following higher-than-expected Consumer Price Index release. Gold went closer to the $1,800 level again on Monday. This morning gold is retracing its yesterday’s drop, as we can see on the daily chart (the chart includes today’s intraday data):

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Precious Metals Price Action

Gold is 1.0% higher this morning, as it is trading closer to its yesterday’s daily high. What about the other precious metals? Silver is 2.1% higher, platinum is 2.9% higher and palladium is 1.8% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s Producer Price Index release has been as expected at +0.8% m/m. Today we will get the Retail Sales number release at 8:30 a.m. and the important FOMC Statement release at 2:00 p.m. We will likely see an increased volatility later in the day.

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, June 15

  • 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index, Import Prices m/m
  • 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
  • 12:20 Eurozone – ECB President Lagarde Speech
  • 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate, FOMC Economic Projections
  • 2:30 p.m. U.S. – FOMC Press Conference
  • 9:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, June 16

  • 7:00 a.m. U.K. – Monetary Policy Summary, Official Bank Rate, MPC Official Bank Rate Votes
  • 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims, Building Permits, Housing Starts
  • Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate
  • All Day, Eurozone – Eurogroup Meetings

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

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

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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.

 

About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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