Daily Gold News: Monday, July 13 – Gold Remains Above $1,800

Paul Rejczak
·3-min read

The gold futures contract lost 0.11% on Friday, as the market slightly extended its short-term downward correction following Wednesday’s advance to new long-term high of $1,829.80. The recent economic data releases have been better than expected and financial markets went risk-on late last week. Gold broke above medium-term local highs in June, as we can see on the daily chart:

Gold is 0.5% higher this morning, as it is trading along Friday’s daily high. What about the other precious metals? Silver gained 0.48% on Friday and today it is trading 2.5% higher. Platinum lost 0.12% on Friday and today it is 4.2% higher, palladium gained 1.59% and today it is 0.8% higher. So precious metals are advancing this morning.

Friday’s Producer Price Index release has come out negative at -0.2% and it’s been lower vs. the expectations of +0.4%. Today we will get a speech from the Fed Member Williams at 11:30 a.m. and economic data from China later in the day.

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

Monday, July 13

  • 11:30 a.m. U.S. – FOMC Member Williams Speech

  • Tentative, China – Trade Balance, USD-Denominated Trade Balance

Tuesday, July 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. – CPI m/m, Core CPI m/m

  • Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate

  • All Day, Eurozone – French Bank Holiday

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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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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.

 

This article was originally posted on FX Empire

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