Daily Gold News: Monday, July 13 – Gold Remains Above $1,800

The gold futures contract lost 0.11% on Friday, as the market slightly extended its short-term downward correction following Wednesday’s advance to new long-term high of $1,829.80. The recent economic data releases have been better than expected and financial markets went risk-on late last week. Gold broke above medium-term local highs in June, as we can see on the daily chart:

Gold is 0.5% higher this morning, as it is trading along Friday’s daily high. What about the other precious metals? Silver gained 0.48% on Friday and today it is trading 2.5% higher. Platinum lost 0.12% on Friday and today it is 4.2% higher, palladium gained 1.59% and today it is 0.8% higher. So precious metals are advancing this morning.

Friday’s Producer Price Index release has come out negative at -0.2% and it’s been lower vs. the expectations of +0.4%. Today we will get a speech from the Fed Member Williams at 11:30 a.m. and economic data from China later in the day.

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

Monday, July 13

• 11:30 a.m. U.S. – FOMC Member Williams Speech
• Tentative, China – Trade Balance, USD-Denominated Trade Balance

Tuesday, July 14

• 5:00 a.m. Eurozone – German ZEW Economic Sentiment
• 6:00 a.m. U.S. – NFIB Small Business Index
• 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
• Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate
• All Day, Eurozone – French Bank Holiday

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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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