Daily Gold News: Wednesday, June 30 – Gold Lower as Stocks Rally
The gold futures contract lost 0.96% on Tuesday, as it broke below its short-term consolidation following $100 decline. It has reached $1750 price level. 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 along yesterday’s daily close, as we can see on the daily chart (the chart includes today’s intraday data):
Right now gold is 0.1% lower, as it is trading virtually flat. What about the other precious metals? Silver is 0.3% higher, platinum is 0.8% lower and palladium is 0.7% higher today. So precious metals’ prices are mixed this morning.
Yesterday’s CB Consumer Confidence release has been much better than expected at 127.3 vs. 118.9. Today the markets will be waiting for the ADP Non-Farm Employment Change release at 8:15 a.m. We will also have Chicago PMI and Pending Home Sales releases.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Wednesday, June 30
- 8:15 a.m. U.S. – ADP Non-Farm Employment Change
- 9:45 a.m. U.S. – Chicago PMI
- 10:00 a.m. U.S. – Pending Home Sales m/m
Thursday, July 1
- 3:55 a.m. Eurozone – German Final Manufacturing PMI
- 7:30 a.m. U.S. – Challenger Job Cuts y/y
- 8:30 a.m. U.S. – Unemployment Claims
- 9:45 a.m. U.S. – Final Manufacturing PMI
- 10:00 a.m. U.S. – ISM Manufacturing PMI , Construction Spending m/m, ISM Manufacturing Prices
- All Day – OPEC-JMMC Meetings
- All Day, Canada – Bank Holiday
For a look at all of today’s economic events, check out our economic calendar.
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