Gold is 0.6% higher this morning, as it is trading along $1,780 price level. What about the other precious metals?
The gold futures contract lost 0.03% on Friday, as it continued to trade within a short-term consolidation. In early April the market has bounced from the support level marked by March 8 local low of $1,663.30. The yellow metal’s price was the lowest since last year’s June.
Gold is 0.6% higher this morning, as it is trading along $1,780 price level. What about the other precious metals? Silver is 1.0% higher, platinum is 0.3% lower and palladium is 0.5% higher today. So precious metals are higher this morning.

Today we will get the U.S. Manufacturing PMI releases at 9:45 a.m. and 10:00 a.m. and a speech from the Fed Chair Powell at 2:20 p.m.

Where would the price of gold go following Thursday’s U.S. Advance GDP release? We’ve compiled the data since January of 2013, an over 8-year-long period of time that contains of thirty three Advance GDP releases. The following chart shows the average gold price path before and after the U.S. Advance GDP releases for the past 33 months. The market was usually going sideways ahead of the release day and closing 0.21% lower on the 10th day after the NFP release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, May 3

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
2:10 p.m. U.S. – FOMC Member Williams Speech
2:20 p.m. U.S. – Fed Chair Powell Speech
All Day, U.K. – Bank Holiday
All Day, Japan – Bank Holiday
All Day, China – Bank Holiday
Tuesday, May 4

12:30 a.m. Australia – RBA Rate Statement, Cash Rate
10:00 a.m. U.S. – Factory Orders m/m
1:00 p.m. U.S. – FOMC Member Daly Speech
All Day, Japan – Bank Holiday
All Day, China – Bank Holiday

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