The gold futures contract gained 0.36% on Friday, as it continued to fluctuate 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 has extended the uptrend, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.1% higher this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver is 0.7% higher, platinum is 0.6% lower and palladium is 0.3% higher today. So precious metals are mixed this morning.
Friday’s Core PCE Price Index release has been slightly higher than expected at +0.7%. Today we will get the ISM Manufacturing PMI release at 10:00 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, June 1
- 12:30 a.m. Australia – RBA Rate Statement, Cash Rate
- 3:55 a.m. Eurozone – German Final Manufacturing PMI
- 8:30 a.m. Canada – GDP m/m
- 9:45 a.m. U.S. – Final Manufacturing PMI
- 10:00 a.m. U.S. – ISM Manufacturing PMI , ISM Manufacturing Prices, Construction Spending m/m, FOMC Member Quarles Speech
- 2:00 p.m. U.S. – FOMC Member Brainard Speech
- 9:30 p.m. Australia – GDP q/q
- All Day – OPEC-JMMC Meetings
Wednesday, June 2
- 2:00 p.m. U.S. – Beige Book, FOMC Member Bostic Speech, FOMC Member Evans Speech
For a look at all of today’s economic events, check out our economic calendar.
Stock Selection Strategist
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