Daily Gold News: Monday, June 13 – Gold Price Retraces Its Friday’s Rally

Gold Price Recap

The gold futures contract gained 1.23% on Friday, June 10, after going down to the daily low of $1,826.50 on higher-than-expected Consumer Price Index release volatility. The market broke slightly above the recent trading range, as it got closer to the $1,900 price level again. However, this morning gold is retracing its Friday’s advance, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.8% lower this morning, as it is trading along the $1,850 level. What about the other precious metals? Silver is 1.9% lower, platinum is 2.9% lower and palladium is 2.0% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Friday’s important Consumer Price Index release has been higher than expected at +1.0% m/m. Today we won’t get any new important economic data releases. Investors will now wait for Wednesday’s FOMC Statement release.

The markets will still continue to react to the ongoing Russia-Ukraine war news.

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

Monday, June 13

• 2:00 p.m. U.S. – FOMC Member Brainard Speech

Tuesday, June 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. – PPI m/m, Core PPI m/m
• 10:00 p.m. China – Industrial Production y/y, Retail Sales y/y
• Tentative, U.S. – IBD/TIPP Economic Optimism

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.