Daily Gold News: Monday, May 30 – Gold Price Remains Close to $1,850

Daily Gold News: Monday, May 30 – Gold Price Remains Close to $1,850

The gold futures contract gained 0.53% on Friday, May 27, as it continued to fluctuate within a short-term consolidation despite global stock markets’ rally. In mid-May gold fell below the $1,800 level on strengthening U.S. dollar, Fed’s monetary policy tightening fears. This morning yellow metal is trading along the $1,850 level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.1% higher this morning, as it is still trading sideways. What about the other precious metals? Silver is 0.3% lower, platinum is 0.7% higher and palladium is 0.4% higher. So the main precious metals’ prices are mixed this morning.

Friday’s important Core PCE Price Index release has been as expected at +0.3% m/m. Today we will have a speech from the FOMC Member Waller at 11:00 a.m. Obviously, we should expect low volatility in the markets due to the holiday in the U.S.