Gold Price Recap
The gold futures contract lost 0.48% on Tuesday, May 31, as it continued to fluctuate within a short-term consolidation along the $1,850 price level. 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 below the $1,850 level again, as we can see on the daily chart (the chart includes today’s intraday data):
Precious Metals Price Action
Gold is 0.4% lower this morning, as it is below its recent trading range. What about the other precious metals? Silver is 0.3% higher, platinum is 1.2% higher and palladium is 0.8% higher. So the main precious metals’ prices are mixed this morning.
Fundamentals and Economic News Schedule
Yesterday’ CB Consumer Confidence release has been higher than expected at 106.4. Today we will get the important ISM Manufacturing PMI and JOLTS Job Openings releases at 10:00 a.m., 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.
Wednesday, June 1
- 7:00 a.m. Eurozone – ECB President Lagarde Speech
- 9:45 a.m. U.S. – Final Manufacturing PMI
- 10:00 a.m. U.S. – ISM Manufacturing PMI, JOLTS Job Openings
- 10:00 a.m. Canada – BOC Rate Statement, Overnight Rate
- 11:30 a.m. U.S. – FOMC Member Williams Speech
- 1:00 p.m. U.S. – FOMC Member Bullard Speech
- 2:00 p.m. U.S – Beige Book
- All Day, China – Bank Holiday
Thursday, June 2
- 7:30 a.m. U.S. – Challenger Job Cuts y/y
- 8:15 a.m. U.S. – ADP Non-Farm Employment Change
- 8:30 a.m. U.S. – Unemployment Claims, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q
- 10:00 a.m. U.S. – Factory Orders m/m
- 1:00 p.m. U.S. – FOMC Member Mester Speech
- All Day – OPEC-JMMC Meetings
- All Day, U.K. – Bank Holiday
- All Day, Eurozone – Italian Bank Holiday
For a look at all of today’s economic events, check out our economic calendar.
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