Daily Gold News: Tuesday, May 25 – Gold Still Going Sideways

The gold futures contract gained 0.42% on Monday, as it continued to trade within 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 again, 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 yesterday’s closing price. What about the other precious metals? Silver is 0.5% lower, platinum is 0.5% higher and palladium is 0.7% higher today. So precious metals are mixed this morning.

The markets will be waiting for today’s Consumer Confidence number release at 10:00 a.m. We will also have New Home Sales and Richmond Manufacturing releases.

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

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

Wednesday, May 26

  • 10:00 a.m. U.S. – FOMC Member Quarles Speech
  • 3:00 p.m. U.S. – 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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