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Daily Gold News: Friday, July 22 – Gold Price Managed to Stay Above $1,700

Stock Market Strategist & Author
July 22, 2022

The gold futures contract gained 0.78% on Thursday, July 21, as it retraced its Wednesday’s decline on the European Central Bank’s interest hike release. Gold reached new medium-term low of $1,678.40, before bouncing back above the $1,700 price level. This morning the yellow metal is trading higher, as we can see on the daily chart (the chart includes today’s intraday data):

 

Gold is 0.3% higher this morning, as it is extending its yesterday’s advance. What about the other precious metals? Silver is 0.4% lower, platinum is 0.1% lower and palladium is 0.3% higher. So the main precious metals’ prices are mixed this morning.

Yesterday’s Philly Fed Manufacturing Index, Unemployment Claims releases have been worse than expected. Today we will get the important Flash Services PMI, Flash Manufacturing PMI releases at 9:45 a.m.

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

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

Monday, July 25

  • 4:00 a.m. Eurozone - German ifo Business Climate

Paul Rejczak
Stock Trading 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.

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Paul Rejczak is a stock market strategist who has been known for the quality of his technical and fundamental analysis since the late nineties. He is interested in forecasting market behavior based on both traditional and innovative methods of technical analysis. Paul has made his name by developing mechanical trading systems, and is the author of the Gold Price News at GoldPriceForecast.com, the Silver Price News at SilverPriceForecast.com, and Stock Trading Alerts at StockPriceForecast.com.


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