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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