After reporting early gains, the SPDR Gold Trust (ETF) (NYSEARCA:GLD) re-entered downward momentum in premarket trading as safe-haven investors remained cautious ahead of the minutes of the Federal Reserve’s March policy meeting. The minutes of the meeting will give an indication to investors about the direction of monetary policy, which is likely to have an impact on gold prices as well.
Gold investors cautious
Gold Futures contracts for June delivery slipped 0.26% to $1,226.30 during the early European trading session. During the previous session, gold rallied 0.84% as the slump across the equity markets propelled buying interest in the yellow metal.
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Apart from the Fed minutes, investors will also stay tuned to a series of speeches from a number of Fed officials, which include Fed Presidents from Cleveland, St. Louis and Dallas. Meanwhile, the market is abuzz with the feeling that the pace of recovery in the U.S. is not optimum following the release of U.S. trade deficit data that fell more than anticipated in February.
Alamos first quarter report
In miners, Alamos Gold Inc (USA) (NYSE:AGI) announced that it will release its financial performance report for the first quarter of 2016 on May 12, 2016. The company will release the report before the opening bell while it will hold its 2016 Annual Meeting of Shareholders on May 13, 2016.
Royal Gold, Inc (USA) (NASDAQ:RGLD) published a note to its investors where it provided an update with respect to its third quarter. The company said that its subsidiary RGLD Gold AG sold roughly 54,300 gold ounces while reporting an inventory of 12,200 gold ounces as part of its streaming agreements. The company noted that the stream segment inventory and sales came higher than the prior year, but were lower than that of the previous quarter.
Barrick Gold Corporation (USA) (NYSE:ABX) updated its investors that the first quarter results for the fiscal year will be released on April 26, 2016.