Daily Gold News: Apr. 27 – Gold Is Above $2,000 Again
Gold is still trading sideways as markets await the U.S. GDP number release.
The gold futures contract lost 0.42% on Wednesday, Apr. 26 as it continued to trade along the $2,000 price level. Recently the yellow metal retreated from its April 13 local high of $2,063.40. In early April it kept advancing on U.S. dollar weakness, stock markets’ rally. There is still a lot of uncertainty following the banking crisis, Fed’s interest rate hikes.
In early March gold was selling off after the Fed Chief Powell’s hawkish testimony. Then it rebounded from the local low of around $1,813.
Today gold is trading above the $2,000 level as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.6% higher this morning as it is retracing its yesterday’s decline. What about the other precious metals? Silver is 1.0% higher, platinum is 0.8% higher and palladium is 1.1% higher. So the main precious metals’ prices are higher this morning.
Yesterday’s Durable Goods Orders release has been higher than expected at +3.2% m/m. Today we will get the important Advance GDP number release at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Thursday, April 27
- 8:30 a.m. U.S. - Advance GDP q/q, Unemployment Claims, Advance GDP Price Index q/q
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 7:30 p.m. Japan - Tokyo Core CPI y/y
- Tentative, Japan - BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate
Friday, April 28
- 8:30 a.m. U.S. - Core PCE Price Index m/m, Employment Cost Index q/q, Personal Income m/m, Personal Spending m/m
- 8:30 a.m. Canada - GDP m/m
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- Tentative, Japan - BOJ Press Conference
- All Day, Eurozone - German Preliminary CPI m/m
- All Day, Eurozone - ECOFIN Meetings, Eurogroup Meetings
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