Gold is 1.8% lower this morning, as it is trading closer to the $1,950 level. What about the other precious metals?
The gold futures contract lost 0.77% on Friday, Mar. 11 following its Thursday’s gain of 0.6%, as the market fluctuated after a quick decline from its new medium-term high. On Mar. 8 gold reached the daily high of $2,078.80 and on Friday it was as low as $1,960. The market is still trading on Russia-Ukraine conflict headlines. This morning the yellow metal is trading below the Friday’s low, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 1.8% lower this morning, as it is trading closer to the $1,950 level. What about the other precious metals? Silver is 3.2% lower, platinum is 3.8% lower and palladium is 9.4% lower. So the main precious metals’ prices are lower this morning.
Friday’s Michigan Consumer Sentiment release has been worse than expected at 59.7. Today we won’t get any new important economic data announcements. The markets will be waiting for the Wednesday’s FOMC Statement release.
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 the next two trading days.
Monday, March 14
Tuesday, March 15
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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Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.