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Daily Gold News: Thursday, Mar. 24 – Gold Price is Closer to $1,950 Again

Gold Price Analysis

The gold futures contract gained 0.82% on Wednesday, Mar 23., following its Tuesday’s decline of 0.4%, as it further extended a short-term consolidation. The market fluctuates above the $1,900 level after retracing most of the rally to the March 8 local high of $2,078.80. This morning gold is trading along the recent local highs, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.1% higher this morning, as it is trading closer to the $1,950 level again. What about the other precious metals? Silver is virtually flat, platinum is 0.1% higher and palladium is 0.7% higher. So the main precious metals’ prices are higher this morning.

Fundamentals and Economic News Schedule

Yesterday’s New Home Sales release has been lower than expected at 772,000. Today we will get the Unemployment Claims, Durable Goods and Flash Manufacturing/ Services PMIs releases.

The markets will continue to react to the ongoing Russia-Ukraine war news.

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

Thursday, March 24

  • 4:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI

  • 8:30 a.m. U.S. – Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Current Account

  • 9:10 a.m. U.S – FOMC Member Waller Speech

  • 9:45 a.m. U.S – Flash Manufacturing PMI, Flash Services PMI

Friday, March 25

  • 5:00 a.m. Eurozone – German ifo Business Climate

  • 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, Pending Home Sales m/m, FOMC Member Williams Speech

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

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

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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