Daily Gold News: Thursday, Mar. 31 – Gold Price Extends Consolidation

Gold Price Recap

The gold futures contract gained 1.09% on Wednesday, Mar. 30, following its Tuesday’s decline of 1.1%, as it bounced from the price level of $1,900 again. On Tuesday the market retraced the recent advance and it broke slightly below that level. This morning the yellow metal is trading within a consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.2% lower this morning, as it is trading along yesterday’s daily closing price. What about the other precious metals? Silver is 0.3% lower, platinum is 0.4% lower and palladium is 0.4% lower. So the main precious metals’ prices are lower this morning.

Gold Fundamental Analysis and Economic News Schedule

Yesterday’s ADP Non-Farm Employment Change release has been as expected at +455,000. Today we will get the important Core PCE Price Index and the Unemployment Claims releases at 8:30 a.m., among others.

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 31

• 8:30 a.m. U.S. – Core PCE Price Index m/m, Unemployment Claims, Personal Income m/m, Personal Spending m/m
• 9:00 a.m. U.S. – FOMC Member Williams Speech
• 9:45 a.m. U.S. – Chicago PMI
• All Day – OPEC-JMMC Meetings

Friday, April 1

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
• 9:45 a.m. U.S. – Final Manufacturing PMI
• 10:00 a.m. U.S. – ISM Manufacturing PMI, ISM Manufacturing Prices, Construction Spending m/m

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

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