Daily Gold News: Thursday, Apr. 22 – Gold Still Below $1,800 Price Level

The gold futures contract gained 0.83% on Wednesday, as it extended its recent advance. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is retracing some of the advance, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% lower this morning, as it is trading along the recent local highs. What about the other precious metals? Silver is 1.0% lower, platinum is 1.0% lower and palladium is 0.7% lower today. So precious metals are lower this morning.

The markets will be waiting for today’s ECB ’s Monetary Policy Statement announcement at 7:45 a.m. and their Press Conference at 8:30 a.m. We will also have the U.S. Unemployment Claims release at 8:30 a.m.

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

Thursday, April 22

• 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
• 8:30 a.m. Eurozone – ECB Press Conference
• 8:30 a.m. U.S. – Unemployment Claims
• 10:00 a.m. U.S. – CB Leading Index m/m, Existing Home Sales

Friday, April 23

• 3:15 a.m. Eurozone – French Flash Services PMI, French Flash Manufacturing PMI
• 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 4:00 a.m. Eurozone – Flash Manufacturing PMI, Flash Services PMI
• 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
• 10:00 a.m. U.S. – New Home Sales

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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