Daily Gold News: Friday, July 29 – Gold Broke Higher After Fed, Stocks’ Rally
Gold Price Recap
The gold futures contract gained 2.91% on Thursday, July 28, as it broke above the recent trading range following Wednesday’s FOMC interest rate decision announcement and stock markets’ rally. Gold price aaccelerated a short-term uptrend after last week’s Thursday’s-Friday’s rebound from its new medium-term low of $1,678.40. This morning gold is trading slightly above yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Yesterday’s important Advance GDP release at 8:30 a.m. has been worse than expected at -0.9% q/q. Today we will get the Core PCE Price Index release, among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Friday, July 29
- 5:00 a.m. Eurozone – CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
- 8:30 a.m. U.S. – Core PCE Price Index m/m, Employment Cost Index q/q, Personal Income m/m, Personal Spending m/m
- 9:45 a.m. U.S. – Chicago PMI
- 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
Monday, August 1
- 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
- Tentative, U.S. – Loan Officer Survey
- All Day, Canada – Bank Holiday
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