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Daily Gold News: Monday, March 1 – Gold’s Rebounding to $1,750

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Paul Rejczak
·3 min read
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The gold futures contract lost 2.62% on Friday, as it broke below the previous local low and a short-term support level of $1,750. The market is the lowest since mid-June of 2020 following strengthening U.S. dollar, among other factors. This morning gold is trading closer to $1,750 mark again, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.6% higherer this morning, as it is retracing some of Friday’s sell-off. What about the other precious metals? Silver is 0.7% higher, platinum is 2.6% higher and palladium is 1.2% higher today. So precious metals are higher this morning.

Friday’s Personal Income/ Personal Spending release has been mixed and Chicago PMI number release has been worse than expected.

Today we will get the ISM Manufacturing PMI release, among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, March 1

  • 9:00 a.m. U.S. – FOMC Member Williams Speech

  • 9:05 a.m. U.S. – FOMC Member Brainard Speech

  • 9:45 a.m. U.S. – Final Manufacturing PMI

  • 10:00 a.m. U.S. – ISM Manufacturing PMI , Construction Spending m/m, ISM Manufacturing Prices

  • 11:10 a.m. Eurozone – ECB President Lagarde Speech

  • 10:30 p.m. Australia – RBA Rate Statement, Cash Rate

Tuesday, March 2

  • 8:30 a.m. Canada – GDP m/m

  • 1:00 p.m. U.S. – FOMC Member Brainard Speech

  • 2:00 p.m. U.S. – FOMC Member Daly Speech

  • 7:30 p.m. Australia – GDP q/q

  • 8:45 p.m. China – Caixin Services PMI

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

This article was originally posted on FX Empire

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