Daily Gold News: Monday, July 18 – Gold Price Remains Above $1,700 Level

Gold Price Recap

The gold futures contract lost 0.13% on Friday, July 15, as it fluctuated following its recent declines. Last week it further extended a short- and medium-term downtrend. On Thursday the daily low was at $1,695. The market reacted to rallying U.S. dollar, among other factors. This morning gold is trading above the $1,700 level, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.5% higher this morning, as it is retracing some of its Thursday’s decline. What about the other precious metals? Silver is 0.5% higher, platinum is 1.5% higher and palladium is 3.5% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Friday’s Retail Sales release has been better than expected at +1.0% m/m. Today we will get the NAHB Housing Market Index release at 10:00 a.m.

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

Monday, July 18

• 10:00 a.m. U.S. – NAHB Housing Market Index
• 4:00 p.m. U.S. – TIC Long-Term Purchases
• 9:30 p.m. Australia – Monetary Policy Meeting Minutes

Tuesday, July 19

• 8:30 a.m. U.S. – Building Permits, Housing Starts
• 1:45 p.m. U.K. – BOE Governor Bailey Speech
• 7:10 p.m. Australia – RBA Governor Lowe Speech

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

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