Gold Price Recap
The gold futures contract gained 1.23% on Thursday, June 2, as it broke above its recent trading range. It went the highest since early May on U.S. dollar weakness, among other factors. In mid-May gold fell below the $1,800 level on strengthening U.S. dollar, Fed’s monetary policy tightening fears. This morning yellow metal is trading along yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):
Precious Metals Price Action
Gold is 0.1% lower this morning, as it is fluctuating within a relatively thin range. What about the other precious metals? Silver is 0.5% higher, platinum is 0.6% higher and palladium is 0.7% lower. So the main precious metals’ prices are mixed this morning.
Fundamentals and Economic News Schedule
Yesterday’ ADP Non-Farm Employment Change release has been lower than expected at only +128,000. Today we will get the important Nonfarm Payrolls release at 8:30 a.m. It is expected at +325,000.
The markets will still continue to react to the ongoing Russia-Ukraine war news.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today.
Friday, June 3
- 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
- 9:45 a.m. U.S. – Final Services PMI
- 10:00 a.m. U.S. – ISM Services PMI
- Tentative, U.S. – Treasury Currency Report
- All Day, U.K. – Bank Holiday
For a look at all of today’s economic events, check out our economic calendar.
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