- Gold prices fell globally during early trading today, Wednesday, as markets await important data on the US economy on Thursday and Friday, in order to obtain more information on the future of monetary policy.
- Spot gold fell 0.34% to $2,353.24 an ounce, while August futures, the most active, were steady at $2,378.7.
- The dollar index, which measures the value of the US currency against a basket of six major currencies, rose 0.10% to 104.72 points.
- Investors are awaiting tomorrow the release of the second reading of the US GDP for the first quarter, where it is expected to rise by 1.4% on an annual basis instead of 1.6% in the previous reading.
- Markets are also awaiting the release of the core PCE price index, the Federal Reserve's preferred inflation gauge, which is expected to rise 0.3% in April, in line with the previous month's reading.
- As for other precious metals, silver contracts for July delivery rose by 0.41% to $32.27, while the spot platinum price fell by 0.38% to $1,059.84 per ounce.
