Thursday’s opening price of gold (GC=F) futures was $3,354.70 an ounce, 0.1% higher than the closing price of $3,352.50 on Wednesday. The price of gold dropped little to $3,336.80 in early trading.
Thursday’s financial stories to keep an eye on include Netflix’s (NFLX) results, the weekly unemployment claims data, the U.S. retail sales report, and the import price index. The economy is doing well, which might hold the price of gold in check for the time being even though additional tariffs are a real possibility in August.
Initial unemployment claims for the week of July 5 are expected to reach 234,000, according to consensus, up from 227,000 the week before. According to analysts, U.S. retail sales increased by 0.2% in June after declining by 0.9% in May. After being flat in June, the import price index is predicted to increase by 0.3% in June. The consensus EPS estimate for Netflix, the first Big Tech company to report for the June quarter, is $7.06. That outcome would surpass the previous year’s quarter by 44.7%.
