Daily Gold News: Thursday, July 21 – Gold Breaks Lower Ahead of the ECB Release
Gold Price Recap
The gold futures contract lost 0.61% on Wednesday, July 20, as it broke below the $1,700 price level again. It reached new medium-term low of $1,690.10, before closing at around $1,700 mark. This morning gold is breaking below its yesterday’s low, 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 way below the $1,700 price level. What about the other precious metals? Silver is 2.1% lower, platinum is 0.7% lower and palladium is 0.3% higher. So the main precious metals’ prices are lower this morning.
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Fundamentals and Economic News Schedule
Yesterday’s U.S. Existing Home Sales release has been lower than expected at 5.12M. Today we will get the important monetary policy release from the ECB at 1:45 a.m. and Philly Fed Manufacturing Index, Unemployment Claims releases at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Thursday, July 21
- 8:15 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims
- 8:45 a.m. Eurozone – ECB Press Conference
- 10:00 a.m. U.S. – CB Leading Index m/m
- Tentative, Japan – BOJ Press Conference
Friday, July 22
- 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
- 9:45 a.m. U.S. – Flash Services PMI, Flash Manufacturing PMI
Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
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