Gold FX Empire

Daily Gold News: Monday, May 30 – Gold Price Remains Close to $1,850

Gold Price Recap

The gold futures contract gained 0.53% on Friday, May 27, as it continued to fluctuate within a short-term consolidation despite global stock markets’ rally. 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 the $1,850 level, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.1% higher this morning, as it is still trading sideways. What about the other precious metals? Silver is 0.3% lower, platinum is 0.7% higher and palladium is 0.4% higher. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Friday’s important Core PCE Price Index release has been as expected at +0.3% m/m. Today we will have a speech from the FOMC Member Waller at 11:00 a.m. Obviously, we should expect low volatility in the markets due to the holiday in the U.S.

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 the next two trading days.

Monday, May 30

  • 11:00 a.m. U.S. – FOMC Member Waller Speech
  • All Day, U.S. – Bank Holiday

Tuesday, May 31

  • 8:30 a.m. Canada – GDP m/m
  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – CB Consumer Confidence
  • 9:30 a.m. Australia – GDP q/q

For a look at all of today’s economic events, check out our economic calendar.

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

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