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Gold Gaining Ahead Of Tomorrow’s Fed Release

Stock Market Strategist & Author
June 9, 2020

The gold futures contract gained 1.31% on Monday, as it retraced some of its last week’s Friday’s decline following much better than expected U.S. monthly jobs data release. Global markets went risk-on and gold has sold off as a safe-haven asset. On Monday a week ago the price has reached slightly above $1,760 and Friday’s daily low fell at $1,671.70. Gold continues to trade close to the bottom of its medium-term consolidation, as we can see on the daily chart:

Gold is gaining 0.5% this morning, as it retraces more of its Friday’s sell-off. Financial markets remain in risk-on mode, as stocks continue to hover along their medium-term highs. What about the other precious metals? Silver gained 2.37% on Monday and today it is 0.9% lower. Platinum gained 3.71% and today it is 1.3% lower. Palladium gained 4.32% yesterday and today it is 2.8% lower. So precious metals’ prices are mixed today.

The recent economic data releases have been confirming negative coronavirus impact on global economies. However, Friday’s US monthly jobs data came out much better than expected. And th Non-Farm Payrolls number has been positive. Will we get more positive surprises this week? Today we will get the U.S. Wholesale Inventories data. But the markets will await tomorrow’s very important data releases: Consumer Price Index and the FOMC Statement.

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

Tuesday, June 9

  • 10:00 a.m. U.S. - Final Wholesale Inventories m/m, JOLTS Job Openings
  • All Day, Eurozone - ECOFIN Meetings

Wednesday, June 10

  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
  • 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
  • 2:30 p.m. U.S. - FOMC Press Conference

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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.


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, the Silver Price News at, and Stock Trading Alerts at

The Incas thought gold represented the glory of their sun god and referred to the precious metal as “Tears of the Sun.”
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