Yahoo Finance Daily Gold News: Tuesday, June 30 – More Short-Term Uncertainty Ahead of Economic Data
The gold futures contract gained 0.05% on Monday, as it extended its short-term consolidation along last Wednesday’s new yearly high of $1,796.10. The market continued its long-term uptrend last week. The recent economic data releases didn’t bring any new surprises for the financial markets. However, gold broke above the medium-term local highs, as we can see on the daily chart:
Gold is trading 0.2% lower this morning, as it is fluctuating within a short-term consolidation. What about the other precious metals? Silver gained 0.16% on Monday and today it is 0.2% lower. Platinum gained 1.09% yesterday and today it is unchanged, Palladium gained 2.04% on Monday and today it’s down 0.1%. So precious metals extend their short-term fluctuations this morning.
Yesterday’s economic data releases from China have been slightly better than expected. The PMI numbers are above 50 mark again. Today we will get the important Consumer Confidence release at 10:00 a.m. and then at 12:30 p.m. the Fed Chair Powell will testify. But investors will be waiting for Thursday’s monthly jobs data release. And tomorrow we will get the ADP Non-Farm Employment Change along with the ISM Manufacturing PMI numbers.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, June 30
8:30 a.m. Canada – GDP m/m
9:45 a.m. U.S. – Chicago PMI
10:00 a.m. U.S. – CB Consumer Confidence
12:30 a.m. U.S. – Fed Chair Powell Testimony
2:00 p.m. U.S. – FOMC Member Kashkari Speech
9:45 p.m. China – Caixin Manufacturing PMI
Wednesday, July 1
3:50 a.m. Eurozone – French Final Manufacturing PMI
3:55 a.m. Eurozone – German Final Manufacturing PMI
4:00 a.m. Eurozone – Final Manufacturing PMI
8:15 a.m. U.S. – ADP Non-Farm Employment Change
9:45 a.m. U.S. – Final Manufacturing PMI
10:00 a.m. U.S. – ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
2:00 p.m. U.S. – FOMC Meeting Minutes
All Day, Canada – Bank Holiday
Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!
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.
* * * * *
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
