Advertisement
Advertisement

Daily Gold News: Tuesday, August 2 – Gold Price Remains Close to Local Highs

By:
Paul Rejczak
Published: Aug 2, 2022, 11:50 UTC

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

Gold FX Empire

In this article:

Gold Price Recap

The gold futures contract gained 0.33% on Monday, August 1, as it further extended its short-term uptrend. On Thursday it broke above the recent trading range following Wednesday’s FOMC interest rate decision announcement and stock markets’ rally. This morning gold is trading slightly above its yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

undefined

Precious Metals Price Action

Gold is 0.2% higher this morning, as it is trading above the $1,770 level. What about the other precious metals? Silver is unchanged, platinum is also unchanged and palladium is 1.0% lower. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Yesterday’s ISM Manufacturing PMI release has been slightly better than expected at 52.8. Today we will get the JOLTS Job Openings release at 10:00 a.m., among others.

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

Tuesday, August 2

  • 12:30 a.m. Australia – Cash Rate, RBA Rate Statement
  • 10:00 a.m. U.S. – JOLTS Job Openings
  • All Day, U.S. – Wards Total Vehicle Sales

Wednesday, August 3

  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI, Factory Orders m/m

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

* * * * *

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.

Did you find this article useful?

Advertisement