Daily Gold News: Friday, Feb. 25 – Gold Price is Close to $1,900 Again

The gold futures contract gained 0.83% on Thursday, Feb. 24 after rallying to the new medium-term local high of $1,976.50. The market reacted to Russia-Ukraine war news and in the morning we’ve seen a panic buying in precious metals. Later in the day gold price retraced most of the advance. This morning gold is extending a short-term downward correction, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading just above the $1,900 price level. What about the other precious metals? Silver is 0.3% higher, platinum is 0.1% higher and palladium is 1.7% higher. So the main precious metals’ prices are mixed this morning.

Yesterday’s Preliminary GDP release has been as expected at 7.0% and the Initial Claims release has also been as expected at 232,000. Today we will get the important Core PCE Price Index release at 8:30 a.m., among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today.

Friday, February 25

• 8:30 a.m. U.S. – Core PCE Price Index m/m, Core Durable Goods Orders m/m, Durable Goods Orders m/m, Personal Income m/m, Personal Spending m/m
• 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Pending Home Sales m/m, Revised UoM Inflation Expectations
• Tentative, U.S. – Fed Monetary Policy Report

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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