Daily Gold News: Wednesday, June 23 – Gold Extends Consolidation Below $1,800

The gold futures contract lost 0.31% on Tuesday, as it continued to fluctuate following $100 decline after last week’s FOMC Statement release. On June 1 gold price was the highest since early January. In April the market has bounced from the support level marked by March 8 local low of $1,663.30. Since then it has been advancing. This morning gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):

Right now gold is 0.3% higher, as it is extending a short-term consolidation. What about the other precious metals? Silver is 0.7% higher, platinum is 0.7% higher and palladium is 1.65% higher today. So precious metals’ prices are higher this morning.

The markets will be waiting for today’s important PMI numbers releases at 9:45 a.m. We will also have the New Home Sales number release and some Fed talk.

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

Wednesday, June 23

• 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 9:00 a.m. U.S. – FOMC Member Bowman Speech
• 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
• 10:00 a.m. U.S. – New Home Sales
• 11:00 a.m. U.S. – FOMC Member Bostic Speech
• 12:00 p.m. Eurozone – ECB President Lagarde Speech

Thursday, June 24

• 4:00 a.m. Eurozone – German ifo Business Climate
• 8:30 a.m. U.S. – Final GDP q/q, Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Final GDP Price Index q/q, Goods Trade Balance, Preliminary Wholesale Inventories m/m
• 9:30 a.m. U.S. – FOMC Member Bostic Speech
• 11:00 a.m. U.S. – FOMC Member Williams Speech
• 4:30 p.m. U.S. – Bank Stress Test Results

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.

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