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Daily Gold News: Monday, March 1 – Gold’s Rebounding to $1,750

By:
Paul Rejczak
Updated: Mar 1, 2021, 12:38 UTC

Gold is 0.6% higherer this morning, as it is retracing some of Friday’s sell-off.

Daily Gold News: Monday, March 1 – Gold’s Rebounding to $1,750

In this article:

The gold futures contract lost 2.62% on Friday, as it broke below the previous local low and a short-term support level of $1,750. The market is the lowest since mid-June of 2020 following strengthening U.S. dollar, among other factors. This morning gold is trading closer to $1,750 mark again, as we can see on the daily chart ( the chart includes today’s intraday data ):

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Gold is 0.6% higherer this morning, as it is retracing some of Friday’s sell-off. What about the other precious metals? Silver is 0.7% higher, platinum is 2.6% higher and palladium is 1.2% higher today. So precious metals are higher this morning.

Friday’s Personal Income/ Personal Spending release has been mixed and Chicago PMI number release has been worse than expected.

Today we will get the ISM Manufacturing PMI release, among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, March 1

  • 9:00 a.m. U.S. – FOMC Member Williams Speech
  • 9:05 a.m. U.S. – FOMC Member Brainard Speech
  • 9:45 a.m. U.S. – Final Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI , Construction Spending m/m, ISM Manufacturing Prices
  • 11:10 a.m. Eurozone – ECB President Lagarde Speech
  • 10:30 p.m. Australia – RBA Rate Statement, Cash Rate

Tuesday, March 2

  • 8:30 a.m. Canada – GDP m/m
  • 1:00 p.m. U.S. – FOMC Member Brainard Speech
  • 2:00 p.m. U.S. – FOMC Member Daly Speech
  • 7:30 p.m. Australia – GDP q/q
  • 8:45 p.m. China – Caixin Services PMI

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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