Daily Gold News: Wednesday, May 11 – Gold Price Bounces From New Low

Gold Price Recap

The gold futures contract lost 0.95% on Tuesday, May 10, as it extended its Monday’s decline of 1.3%. Gold was the lowest since mid-February yesterday. It retraced almost all of the February-March rally and got back closer to the $1,800 level on strengthening U.S. dollar, Fed’s monetary policy tightening fears. This morning the yellow metal is bouncing from the new local low, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.7% higher this morning, as it is trading along the $1,850 level. What about the other precious metals? Silver is 2.6% higher, platinum is 2.8% higher and palladium is 1.2% lower. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Today at 8:30 a.m. we will get the important Consumer Price Index release. It is expected at +0.2% m/m.

The markets will 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, May 11

  • 4:00 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 1:01 p.m. U.S. – 10-y Bond Auction
  • 2:00 p.m. U.S. – Federal Budget Balance
  • All Day – OPEC Meetings

Thursday, May 12

  • 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims
  • 1:01 p.m. U.S. – 30-y Bond Auction
  • 4:00 p.m. U.S. – FOMC Financial Stability Report

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.

* * * * *


All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported.

The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.