Daily Gold News: Thursday, May 27 – Gold’s Short-Term Consolidation Along $1,900

The gold futures contract gained 0.31% on Wednesday, as it extended its uptrend once again. It 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 slightly below $1,900 price mark, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.1% lower this morning, as it is trading along yesterday’s closing price. What about the other precious metals? Silver is 0.1% higher, platinum is 0.1% lower and palladium is 1.3% higher today. So precious metals are mixed this morning.

The markets will be waiting for today’s Preliminary GDP and Unemployment Claims releases at 8:30 a.m.

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

Thursday, May 27

• 8:30 a.m. U.S. – Preliminary GDP q/q , Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Preliminary GDP Price Index q/q
• 10:00 a.m. U.S. – Pending Home Sales m/m

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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