May 30, 2018

Gold received a slight boost this morning trading at $1,301.80, up $2.20, after the US dollar declined due to a rebounding Euro that dropped yesterday to its lowest level of 2018,  amid political upheaval in Italy. Revised Q1 GPD data showed economic growth at a rate of 2.2%, down 0.1%. Despite the downward revision, the data had little impact on markets with the dollar remaining virtually unchanged after its release, and equity futures remaining poised for a rebound after yesterday’s slump.