Risk-on sentiment allowed IAU to post 0.44% gain today

Published: May 26 2023, 23:11 GMT+0

Risk-on sentiment allowed IAU to post 0.44% gain today

A quick look at today: after closing at $36.76 on yesterday, iShares Gold Trust rallied as high as $37 but ended the day at $36.92.

Nevertheless, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

At the same time, United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

IShares Gold Trust shows positive signs, other assets are also on par: Costco is trading around $507.26 after ending today's session at $486.55 (up 4.26% today). Intel rallies 5.84% today and closed at $27.4. Netflix went up by 5.54% today, and closed at $378.88.

IShares Gold Trust has fallen back around 5.4% over the past 22 days, from a notable high of $38.86.