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Gold and silver slightly declined on Tuesday. The news of the rate reduction of RBA adversely affected the Aussie dollar. The U.S manufacturing PMI increased to 54.8, an increase of 1.4 from March's reading. This news may have helped rally the U.S stock market and oil yesterday and also pull down a bit metals. On today's agenda: Euro Area Unemployment Rate, ADP estimate of U.S. non-farm payroll and U.S Factory Orders.
The full daily analysis on gold and silver for May 2nd

Gold edged down on Tuesday by 0.11% to $1,662.4; silver also fell by 0.28% to $30.92. During the week gold decreased by 0.14% and silver by 1.53%.
On Today's Agenda
U.S Factory Orders: This report will show the changes in U.S. factory orders of manufactured durable goods during February;
Euro Area Unemployment Rate: the Euro Area unemployment rate edged up to 10.8% in February; if this upward trend will continue it may adversely affect the Euro;
ADP estimate of U.S. non-farm payroll: ADP will announce its estimate for the upcoming U.S non-farm payroll change during the month of April 2012 in anticipation for the upcoming no-farm report to be published by Friday;