Gold Price Recap
The gold futures contract lost 1.02% on Wednesday, May 25, as it retraced its Tuesday’s gain of around 1.0%. Recently gold fell below the $1,800 level on strengthening U.S. dollar, Fed’s monetary policy tightening fears. This morning yellow metal is extending its yesterday’s decline, as we can see on the daily chart (the chart includes today’s intraday data):
Precious Metals Price Action
Gold is 0.6% lower this morning, as it is trading close to the $1,850 price level again. What about the other precious metals? Silver is 0.5% lower, platinum is 0.4% lower and palladium is 0.2% lower. So the main precious metals’ prices are lower this morning.
Fundamentals and Economic News Schedule
Yesterday’s Durable Goods Orders release has been lower than expected at +0.4%. Today we will get the important Preliminary GDP release, among others.
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.
Thursday, May 26
- 8:30 a.m. U.S. – Preliminary GDP q/q, Unemployment Claims
- 10:00 a.m. U.S. – Pending Home Sales m/m
- All Day, Eurozone – French Bank Holiday, German Bank Holiday
Friday, May 27
- 7:35 a.m. U.S. – FOMC Member Bullard Speech
- 8:30 a.m. U.S. – Core PCE Price Index m/m, Goods Trade Balance, Personal Income m/m, Personal Spending m/m, Preliminary Wholesale Inventories m/m
- 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
For a look at all of today’s economic events, check out our economic calendar.
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