Gold Price Forecast Today: The gold futures contract lost 0.28% on Thursday, as it fluctuated following its recent advances. On Wednesday gold price was the highest since early January. In April the market has bounced from the support level marked by March 8 local low of $1,663.30. Since then it has been advancing.
Gold Price Forecast Today
Gold is 0.2% lower this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver is 0.8% lower, platinum is 0.2% lower and palladium is 0.3% higher today. So precious metals are lower this morning.
Yesterday’s Preliminary GDP release has been slightly worse than expected at +6.4% and the Unemployment Claims release has been better than expected at 406,000. Today we will get Personal Spending/ Personal Income, Core PCE Price Index releases, among others.