Gold Managed to Stay Above $1,700
Sunshine Profits | Jul 22, 2022 09:28AM ET
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 advance on yesterday. 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..
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