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Daily Gold News: Monday, June 29 - Gold Closer to Long-Term High Again

 

June 29, 2020 (Investorideas.com Newswire) The gold futures contract gained 0.55% on Friday, as it continued to trade along Wednesday's new yearly high of $1,796.10. The market has extended 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 its local highs, as we can see on the daily chart:


Gold is trading 0.3% lower this morning, as it is further extending the short-term consolidation. What about the other precious metals? Silver gained 0.78% on Friday and today it is 0.1% lower. Platinum gained 2.07% on Friday and today it is 1.0% higher, palladium gained 2.67% on Friday and today it is up 0.9%. So precious metals are mixed on Monday's morning.

On Friday we got the Personal Spending/ Personal Income numbers along with Core PCE Price Index and the Revised UoM Consumer Sentiment number. The data have been generally as expected. This week we will get the important monthly jobs data on Thursday preceded by Wednesday's ADP Non-Farm Employment Change release.

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

Monday, June 29

Tuesday, June 30

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!

Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care

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