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April 28, 2023
Today at a glance: Gold recovered back to $1,999.4 per ounce after dipping down to $1,984.4, in a session that followed yesterday's $1,999 close value.
Gold's state is reflected by market data as United States Core PCE Price Index (MoM) (Mar) released today at 12:30 UTC with a figure of 0.3, while the previous figure was 0.3. Data from United States concerning Pending Home Sales was released yesterday at 14:00 UTC. Newly published figures emphasized continued decline from last month's figure of 0.8% to -5.2% this month. United States GDP fell short of the two projections, with new data of 1.1.
Gold is climbing away and is now $17.83 from the $1,981.57 support line. Gold made an initial breakout above its 5 day Simple Moving Average at $1,998.2, a potential indicator of a newly emerging bullish phase. CME Gold's upper Bollinger Band® is at $2,042.7 and the lower is $1,982.
Despite muted price action in Gold, chart analysis indicates it is positioned for a bullish run in the short term.
While CME Gold was pretty flat today, mixed performances were seen elsewhere as Platinum lost 0.43% today and closed at $1,093.2. Silver is trading around $25.34 after ending today's session at $25.21 (up 0.5% today). Palladium is trading around $1,503 after ending today's session at $1,492.4 (up 0.71% today).
Having soared to a high of $2,055 approximately 15 days ago, CME Gold is now trading 2.73% lower.
