Gold Price Close To Yearly High Again

The gold futures contract gained 0.76% on Monday, as it extended its Friday’s advance of 1.3%.  The market has remained above the price level of $1,750. Last week’s Powell’s testimonies on Wednesday, Thursday and his Friday’s speech didn’t bring any new surprises for the financial markets. But gold has got very close to its medium-term highs, as we can see on the daily chart.

Gold is 0.3% higher this morning, as it is slightly extending its recent advance. What about the other precious metals? Silver gained 0.31% on Monday and today it is 1.1% higher. Platinum gained 1.98% and today it is up 0.7%. Palladium gained 1.77% on Monday and today it is trading 0.2% lower. So precious metals generally extend their short-term uptrend today.

Today’s Eurozone PMI numbers releases have been better-than-expected. And the markets  will now await the U.S. Flash Manufacturing PMI/ Flash Services PMI releases at 9:45 a.m. Then we will get the New Home Sales along with the Richmond Manufacturing Index numbers at 10:00 a.m.

The U.S. Flash PMI numbers for June are expected to get back to their neutral values of around 50. Last month they were at 38-40.

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

Tuesday, June 23

• 3:15 a.m. Eurozone - French Flash Services PMI, French Flash Manufacturing PMI
• 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
• 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
• 10:00 a.m. U.S. - New Home Sales, Richmond Manufacturing Index

Wednesday, June 24

• 4:00 a.m. Eurozone - German ifo Business Climate
• All Day, China - Bank Holiday

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Paul Rejczak
Stock Selection 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. 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.

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