Gold

Daily Gold News: Friday, May 28 – Gold Remains Below $1,900

The gold futures contract lost 0.28% on Thursday, as it fluctuated following its recent advances. On Wednesday gold price was the highest since early January. In April the market has bounced from the support level marked by March 8 local low of $1,663.30. Since then it has been advancing. Today gold is trading below $1,900 price mark, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver is 0.8% lower, platinum is 0.2% lower and palladium is 0.3% higher today. So precious metals are lower this morning.

Yesterday’s Preliminary GDP release has been slightly worse than expected at +6.4% and the Unemployment Claims release has been better than expected at 406,000. Today we will get Personal Spending/ Personal Income, Core PCE Price Index releases, among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, May 28

  • 8:30 a.m. U.S. – Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m, Goods Trade Balance, Preliminary Wholesale Inventories m/m
  • 9:45 a.m. U.S. – Chicago PMI
  • 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.

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

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