Daily Gold News: Friday, Mar. 25 – Gold Price Broke Above Recent Highs

Gold Price Recent Movements Recap

The gold futures contract gained 1.29% on Thursday, Mar. 24, following its Wednesday’s gain of 0.8%, as it broke above a short-term consolidation. Recently the market fluctuated above the $1,900 price level after retracing most of the rally to the March 8 local high of $2,078.80. This morning gold is trading along the $1,950 level, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Prices Today

Gold is 0.3% lower this morning, as it is retracing some of yesterday’s advance. What about the other precious metals? Silver is 0.1% higher, platinum is 0.9% lower and palladium is 1.1% lower. So the main precious metals’ prices are mixed this morning.

Fundamental Analysis and Economic News Schedule

Yesterday’s Unemployment Claims release has been better than expected at 187,000 and the PMI release have also been better than expected. Today we will get the Michigan Sentiment release at 10:00 a.m.

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 today.

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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