Daily Gold News: Wednesday, Apr. 6 – Gold Price Remains Within a Consolidation

Gold Price Recap

The gold futures contract lost 0.34% on Tueasday, Apr. 5 as it continued to fluctuate within a consolidation following the early March rally and a subsequent decline. The yellow metal’s price keeps fluctuating above the $1,900 level. This morning the market is trading slightly lower again, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.2% lower this morning, as it is still trading within a short-term consolidation. What about the other precious metals? Silver is 0.6% lower, platinum is 0.3% lower and palladium is 1.1% higher. So the main precious metals’ prices are lower this morning.

Gold Fundamental Anaysis and Economic News Schedule

Yesterday’s ISM Services PMI release has been slightly lower than expected at 58.3. Today we will get the important FOMC Meeting Minutes release at 2:00 p.m.

The markets will continue to react to the ongoing Russia-Ukraine war news.

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

Wednesday, April 6

• 2:00 p.m. U.S. – FOMC Meeting Minutes

Thursday, April 7

• 8:30 a.m. U.S. – Unemployment Claims
• 9:00 a.m. U.S. – FOMC Member Bullard Speech
• 3:00 p.m. U.S. – Consumer Credit m/m
• 4:05 a.m. U.S. – FOMC Member Williams Speech

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

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