Wednesday May 11 – Gold Price Rebounds From New Low


Gold Price Summary

the gold the futures contract lost 0.95% on Tuesday, May 10, as it extended its 1.3% decline from Monday. Gold was at its lowest since mid-February yesterday. It retraced most of the February-March rally and moved closer to the $1,800 level on the strengthening US Dollar, fears of Fed monetary policy tightening. This morning, the yellow metal rebounded from the new local low, as seen on the daily chart (chart includes intraday data from today):

Gold is up 0.7% this morning as it trades at the $1,850 level. What about other precious metals? Money is 2.6% higher, platinum is 2.8% higher and palladium is 1.2% lower. The prices of the main precious metals are therefore higher this morning.

Calendar of fundamentals and economic news

Today, at 8:30 am, we will have the important publication of the Consumer Price Index. It is expected at +0.2% m/m.

Markets will continue to react to ongoing news about the Russian-Ukrainian war.

Below you will find our Gold, silver and mining stocks economic news schedule for the next two trading days.

Wednesday May 11

  • 4:00 a.m. Euro zone – Speech by Lagarde by the President of the ECB
  • 8:30 a.m. United States – CPI m/m, Core CPI m/m
  • 1:01 p.m. US – 10-year bond auction
  • 2:00 p.m. US – Federal Balanced Budget
  • All Day – OPEC Meetings

Thursday May 12

  • 8:30 a.m. United States – PPI m/m, central PPI m/m, unemployment claims
  • 1:01 p.m. US – 30-year bond auction
  • 4:00 p.m. US – FOMC Financial Stability Report

For an overview of all of today’s economic events, check out our economic calendar.

Paul Rejczak
Equity Trading Strategist
Sunshine benefits: analysis. Care. Benefits.

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