Comex Gold

Daily Gold News: Monday, May 24 – Gold Consolidating Below $1,900 Price Mark

The gold futures contract lost 0.28% on Friday, as it extended a short-term consolidation following the recent advances. In early 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 sideways, 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 along Friday’s closing price. What about the other precious metals? Silver is 0.5% higher, platinum is 0.1% higher and palladium is 0.3% higher today. So precious metals are slightly higher this morning.

Friday’s U.S. Flash Manufacturing PMI and Flash Services PMI releases have been better than expected. Today we won’t get any new important economic data releases. However, there will be some Fed-talk. The markets will wait for tomorrow’s Consumer Confidence number release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, May 24

  • 8:05 a.m. Japan – BOJ Governor Kuroda Speech
  • 9:00 a.m. U.S. – FOMC Member Brainard Speech
  • 12:00 p.m. U.S. – FOMC Member Bostic Speech
  • All Day, Eurozone – German Bank Holiday, French Bank Holiday
  • All Day, Canada – Bank Holiday

Tuesday, May 25

  • 4:00 a.m. Eurozone – German ifo Business Climate
  • 7:40 a.m. U.S. – FOMC Member Evans Speech
  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
  • 10:00 a.m. U.S. – CB Consumer Confidence , New Home Sales, Richmond Manufacturing Index, FOMC Member Quarles Speech

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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