Daily Gold News: Monday, June 20 – Gold Price Remains Close to $1,850

Gold Price Recap

The gold futures contract lost 0.50% on Friday, June 17, as it continued to fluctuate within a consolidation along the $1,850 price level. It retraced some of its short-term advance after bouncing from the $1,800 support level following last week’s important FOMC’s release. This morning gold is trading slightly below the Friday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.1% lower this morning, as it is trading below the $1,850 level. What about the other precious metals? Silver is 0.1% lower, platinum is 0.9% higher and palladium is 0.9% higher. So the main precious metals’ prices are virtually flat this morning.

Fundamentals and Economic News Schedule

Friday’s Industrial Production number release has been worse than expected at +0.2%. Today we won’t get any new important economic data releases due to the Bank Holiday in the U.S. However, we will have speeches from the ECB President Lagarde and FOMC Member Bullard.

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 20

• 9:00 a.m. Eurozone – ECB President Lagarde Speech
• 11:00 a.m. Eurozone – ECB President Lagarde Speech
• 12:45 p.m. U.S. – FOMC Member Bullard Speech
• 8:00 p.m. Australia – RBA Governor Lowe Speech
• 9:00 p.m. Australia – Monetary Policy Meeting Minutes
• All Day, U.S. – Bank Holiday

Tuesday, June 21

• 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
• 10:00 a.m. U.S. – Existing Home Sales
• 12:00 p.m. U.S. – FOMC Member Mester Speech

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

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