Gold as an investment

Daily Gold News: Tuesday, June 28 – Gold Price Remains Close to Short-Term Local Lows

Sep 24, 2022

Gold Price Recap

The gold futures contract lost 0.30% on Monday, June 27, as it further extended its consolidation along the $1,800-1,850 price level. The market is still going sideways after declining from around $2,000 to below the $1,800 level in April-May. This morning gold is trading along its yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is virtually flat this morning, as it is trading below the $1,825 price level. What about the other precious metals? Silver is 0.4% higher, platinum is 0.7% higher and palladium is 0.8% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Yesterday’s Durable Goods Orders release has been higher than expected at +0.7%, and the Pending Home Sales release has also been higher than expected at +0.7%. Today we will get the important CB Consumer Confidence release at 10:00 a.m., among others.

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.

Tuesday, June 21

  • 4:00 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. U.S. – Goods Trade Balance, Preliminary Wholesale Inventories m/m
  • 9:00 a.m. U.S. – HPI m/m, SP/CS Composite-20 HPI y/y
  • 10:00 a.m. U.S. – CB Consumer Confidence, Richmond Manufacturing Index
  • All Day – G7 Meetings

Wednesday, June 29

  • 6:30 a.m. U.S. – FOMC Member Mester Speech
  • 8:30 a.m. U.S. – Final GDP q/q, Final GDP Price Index q/q
  • 9:30 a.m. U.S. – Fed Chair Powell Speech
  • 9:30 Eurozone – ECB President Lagarde Speech
  • 9:30 U.K. – BOE Governor Bailey Speech
  • 1:05 p.m. U.S. – FOMC Member Bullard Speech
  • All Day – OPEC Meetings
  • All Day, Eurozone – Italian Bank Holiday

For a look at all of today’s economic events, check out our  economic calendar.

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

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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.

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