Daily Gold News: Monday, Apr. 26 – Gold Extends Consolidation

The gold futures contract lost 0.24% on Friday, as it traded within a short-term consolidation. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading along Friday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is virtually unchanged this morning, as it is trading within a short-term consolidation following the recent advances. What about the other precious metals? Silver is 0.2% higher, platinum is 0.5% higher and palladium is 1.4% higher today. So precious metals are mixed this morning.

The markets will be waiting for Wednesday’s FOMC Statement and Thursday’s Advance GDP releases. Today we will get the Durable Goods Orders announcement at 8:30 a.m.

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

Monday, April 26

• 4:00 a.m. Eurozone – German ifo Business Climate
• 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m
• Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate

Tuesday, April 27

• 10:00 a.m. U.S. – CB Consumer Confidence, Richmond Manufacturing Index
• 4:00 p.m. Canada – BOC Governor Macklem 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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