The gold futures contract gained 1.35% on Friday, as it retraced most of the decline from mid-May high of 1,775.80. Early in the last week it has been extending a consolidation after bouncing off $1,700 support level on Wednesday. Gold price is still trading within its medium-term consolidation, as we can see on the daily chart:

Gold is 0.3% higher today, as it is trading within its Friday's daily range. Financial markets remain in risk-on mode, as stocks continue to hover along their medium-term highs. What about the other precious metals?: Silver gained 2.96% on Friday and today it is 2.0% higher, platinum gained 0.75% and today is trading 2.1% higher. Palladium gained 1.36% yesterday and today it is 0.5% higher. So precious metals extend their Friday's advances this morning.

The recent economic data releases have been confirming negative coronavirus impact on global economies. Friday's Chicago PMI release has been worse than expected and the Michigan Sentiment number has come out along with expectations. Today, markets will await the ISM Manufacturing PMI release at 10:00 a.m.

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

Monday, June 1

• 9:45 a.m. U.S. - Final Manufacturing PMI
• 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
• All Day, Eurozone - German Bank Holiday, French Bank Holiday

Tuesday, June 2

• 1:30 a.m. Australia - Cash Rate, RBA Rate Statement
• 9:30 p.m. Australia - GDP q/q
• 9:45 p.m. China - Caixin Services PMI

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

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

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The gold futures contract gained 0.09% on Thursday, as it extended its consolidation following bouncing off $1,700 support level on Wednesday. Gold has been trading within a downward correction after reaching new monthly high of $1,775.80 on Monday almost two weeks ago. Wednesday's price action was quite bullish, but gold keeps extending over month-long consolidation, as we can see on the daily chart:

Gold is 0.6% higher today, as it gets back to yesterday's high. Financial markets remain in risk-on mode, as stocks hover along their new medium-term highs. What about the other precious metals?: Silver gained 1.18% on Thursday and today it is 2.6% higher, platinum lost 1.14% and today is trading 0.4% higher. Palladium lost 1.61% yesterday and today it is 1.6% lower again.

The recent economic data releases have been confirming negative coronavirus impact on global economies. Today's Personal Spending number release came out worse than expected. However, the Personal Income data was better than expected. The market will await today's Fed Chair Powell speech at 11:00 a.m. We will also have a speech from President Trump today. Investors are now waiting for the Chicago PMI release at 9:45 a.m. There will also be Michigan Sentiment number release at 10:00 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, May 29

• 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
• 8:30 a.m. Canada - GDP m/m, RMPI m/m, IPPI m/m
• 8:30 a.m. U.S. - Personal Spending m/m, Personal Income 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
• 11:00 a.m. U.S. - Fed Chair Powell Speech
  

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

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

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The gold futures contract gained 1.24% on Wednesday, as the market retraced most of its Tuesday's decline. It bounced off a $1,700 support level again. Gold has been trading within a downward correction after reaching new monthly high of $1,775.80 on Monday a week ago. But yesterday's price action was quite bullish and today it goes higher. But gold extends an over month-long consolidation, as we can see on the daily chart:

Gold is 0.7% higher today, as it is extending a short-term uptrend. Financial markets remain in risk-on mode, as stocks reach new medium-term highs. What about the other precious metals?: Silver gained 0.92% on Wednesday and today it is 0.4% higher, platinum gained 0.55% and today is trading 0.5% lower. Palladium lost 0.54% yesterday and today it is 0.6% lower again.

The recent economic data releases have been confirming negative coronavirus impact on global economies. Today's U.S. GDP number release came out at -5.0% and Durable Goods Orders fell by 17.2%. The Unemployment Claims remained steady at over 2 million. We will also await the Pending Home Sales number release at 10:00 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days. Tomorrow we will get another series of the U.S. economic data releases and a speech from the Fed Chair Powell at 11:00 a.m.:

Thursday, May 28

• 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
• 11:00 a.m. U.S. - FOMC Member Williams Speech

Friday, May 29

• 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
• 8:30 a.m. Canada - GDP m/m, RMPI m/m, IPPI m/m
• 8:30 a.m. U.S. - Personal Spending m/m, Personal Income 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
• 11:00 a.m. U.S. - Fed Chair Powell Speech

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The gold futures contract lost 1.72% on Tuesday, as it extended its downward correction from last week's Monday's new monthly high of $1,775.80. It has retraced almost all of the decline from April 14 high of $1,788.80 before reversing downwards again. Gold price continues to trade within an over month-long consolidation, as we can see on the daily chart (updated on Friday):

Gold is 0.7% lower today, as it trading close to $1,700 mark. Financial markets are in risk-on mode, as stocks extend their uptrend. What about the other precious metals?: Silver lost 0.55% on Tuesday and today it is 1.0% lower, platinum lost 1.47% and it trades 0.3% lower this morning. Palladium gained 0.6% yesterday and today it is 0.6% lower.

The recent economic data releases have been confirming a negative coronavirus impact on global economies. Yesterday's CB Consumer Confidence has come out below 100 level once again and the New Home Sales remained close to 600k. The markets are used to bad economic numbers, as stocks trade relatively close to their medium-term local highs following rebounding from the late March lows.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days. Investors will await tomorrow's U.S. GDP number release. And today we will get the Richmond Manufacturing Index and the Beige Book:

Wednesday, May 27

• 3:30 a.m. Eurozone - ECB President Lagarde Speech
• 10:00 a.m. U.S. - Richmond Manufacturing Index
• 2:00 p.m. U.S. - Beige Book

Thursday, May 28

• 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
• 11:00 a.m. U.S. - FOMC Member Williams Speech

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

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

• Read more

The gold futures contract traded within a downward correction from its new monthly high of $1,775.80 last week. It has retraced almost all of the decline from April 14 high of $1,788.80 on Monday, before reversing downwards again. Gold price continues to trade within an over month-long consolidation, as we can see on the daily chart (updated on Friday):

Gold is 0.3% unchanged today, as it trading along the price of $1,730. What about the other precious metals?: Silver is 1.7% higher this morning, platinum is 0.4% lower, and palladium is down 0.8%. Precious metals are extending their short-term consolidation today.

Last week's economic data releases didn't bring much surprises. They have been confirming a negative coronavirus impact on global economies. Thursday's Philly Fed Manufacturing Index came at over -43.1 points and the Unemployment Claims were over 2.4 million. Flash Manufacturing and Services PMI's have been as expected, however still below the 50 mark. The markets are used to bad economic numbers, as stocks remain relatively close to their medium-term local highs following rebounding from the late March lows. On Friday, we didn't get any important economic data. And yesterday there was a bank holiday in the U.S. - Memorial Day.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days. Investors will await today's U.S. CB Consumer Confidence along with the New Home Sales data releases:

Tuesday, May 26

• 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
• 9:00 a.m. Eurozone - ECB Financial Stability Review
• 10:00 a.m. U.S. - CB Consumer Confidence, New Home Sales
• 1:00 p.m. U.S. - FOMC Member Kashkari Speech
• 5:00 p.m. Canada - BOC Governor Poloz Speech

Wednesday, May 27

• 3:30 a.m. Eurozone - ECB President Lagarde Speech
• 10:00 a.m. U.S. - Richmond Manufacturing Index
• 2:00 p.m. U.S. - Beige Book

Thank you for reading today's quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. If you're not ready to subscribe to our premium services, a great way to check them out (also the premium services - free for 7 days!), is to sign up for our no-obligation free gold newsletter. We'll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

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

• Read more