The gold futures contract extended its uptrend on Tuesday, as it gained 1.46% following weakening U.S. dollar amid the Eurozone stimulus news. The market has broken above its recent trading range along the $1,800 price level. The financial markets have been going risk-on following series of better-than-expected economic data and quarterly corporate earnings releases. Last month gold broke above medium-term local highs in June, as we can see on the daily chart:

Gold is 0.8% higher this morning, as it is further extending the uptrend. What about the other precious metals? Silver rallied 6.76% on Tuesday and today it is gaining another 7.3%. Platinum gained 7.11% and today it is 1.1% higher. Palladium gained 3.74% and today it is gaining 1.2%. So precious metals are extending their uptrend this morning and silver remains particularly strong.

Last week's Friday's economic data releases have been mixed. On Monday and Tuesday we didn't get any important economic data. However, the markets are reacting on the U.S. quarterly corporate earnings releases this week. Today we will get the Existing Home Sales number at 10:00 a.m.

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

Wednesday, July 22

• 8:30 a.m. Canada - CPI m/m
• 9:00 a.m. U.S. - HPI m/m
• 10:00 a.m. U.S. - Existing Home Sales
• All Day, Japan - Bank Holiday

Thursday, July 23

• 8:30 a.m. U.S. - Unemployment Claims
• 10:00 a.m. U.S. - CB Leading Index m/m
• All Day, Japan - Bank Holiday

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Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.