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Daily Gold News: Thursday, July 21 – Gold Breaks Lower Ahead of the ECB Release

By:
Paul Rejczak
Published: Jul 21, 2022, 11:52 UTC

Today we will get the important monetary policy release from the ECB at 1:45 a.m.

Gold FX Empire

In this article:

Gold Price Recap

The gold futures contract lost 0.61% on Wednesday, July 20, as it broke below the $1,700 price level again. It reached new medium-term low of $1,690.10, before closing at around $1,700 mark. This morning gold is breaking below its yesterday’s low, 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 0.8% lower this morning, as it is trading way below the $1,700 price level. What about the other precious metals? Silver is 2.1% lower, platinum is 0.7% lower and palladium is 0.3% higher. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Yesterday’s U.S. Existing Home Sales release has been lower than expected at 5.12M. Today we will get the important monetary policy release from the ECB at 1:45 a.m. and Philly Fed Manufacturing Index, Unemployment Claims releases at 8:30 a.m., among others.

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

Thursday, July 21

  • 8:15 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
  • 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims
  • 8:45 a.m. Eurozone – ECB Press Conference
  • 10:00 a.m. U.S. – CB Leading Index m/m
  • Tentative, Japan – BOJ Press Conference

Friday, July 22

  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 9:45 a.m. U.S. – Flash Services PMI, Flash Manufacturing PMI

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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