Daily Gold News: Friday, Mar. 4 – Gold Extends Its Short-Term Advance

The gold futures contract gained 0.71% on Thursday, Mar. 3 following its Wednesday’s decline of 1.1%, as it fluctuated after the recent rallly. The Russia-Ukraine conflict is still dominating the headlnes and it causes volatility on the markets. Today we will get the important monthly jobs data release at 8:30 a.m. 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 0.5% higher this morning, as it is trading along the $1,950 price level. What about the other precious metals? Silver is 0.2% higher, platinum is 0.6% higher and palladium is 2.4% higher. So the main precious metals’ prices are higher this morning.

Yesterday’s Unemployment Claims release has been better than expected at 215,000 and the ISM Services PMI release has been worse than expected at 56.5. Today we will get the Nonfarm Payrolls along with the Unemployment Rate releases at 8:30 a.m.

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

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

Friday, March 4

• 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m

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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