Daily Gold News: Wednesday, July 29 – Uncertainty Following Gold’s Record-Breaking Rally -

On Tuesday the gold futures contract reached another new record high of $1,974.70, as it accelerated the advance following recent breakout above the short-term trading range and $1,800 level. However, the yellow metal closed $30 below the daily high yesterday, as it gained 0.7%. Gold reached the highest in history following U.S. dollar sell-off, among other factors.

Gold is unchanged this morning as it is extending a short-term consolidation following record-breaking advance. What about the other precious metals? Silver lost 0.82% on Tuesday and today it is 0.1 % lower. Platinum gained 2.03% and today it is 1.1% lower. Palladium lost 0.18% on Tuesday and today it’s 2.7% lower. So precious metals are mixed this morning.

Yesterday’s U.S. CB Consumer Confidence release has been slightly worse than expected at 92.6. Today we will get the Pending Home Sales number at 10:00 a.m. and then the important FOMC Statement release at 2:00 p.m.

On Thursday we will get the U.S. Advance GDP number, among others. The GDP is expected to decline by a stunning 35.0% q/q!

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

Wednesday, July 29

  • 8:30 a.m. U.S. – Goods Trade Balance, Preliminary Wholesale Inventories m/m
  • 10:00 a.m. U.S. – Pending Home Sales m/m
  • 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate
  • 2:30 p.m. U.S. – FOMC Press Conference

Thursday, July 30

  • 4:00 a.m. Eurozone – German Preliminary GDP q/q, ECB Economic Bulletin
  • 5:00 a.m. Eurozone – Unemployment Rate
  • 8:30 a.m. U.S. – Advance GDP q/q, Advance GDP Price Index q/q, Unemployment Claims
  • 9:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI

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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.

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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.


This article was originally posted on FX Empire


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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