Daily Gold News: Thursday, Mar. 10 – Gold’s Volatility Following Recent Rally

The gold futures contract lost 2.70% on Wednesday, Mar. 9, following its Tuesday’s advance of 2.4%, as it fluctuated after the recent rally and a breakout above the $2,000 level. Recently it accelerated the uptrend following more Russia-Ukraine conflict headlines. On Tuesday the yellow metal reached its new medium-term high of $2,078.80 and it got very close to the 2020 all-time high of $2,089.20. This morning gold is trading along the $2,000 level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.7% higher this morning, as it is trading slightly above the $2,000 level. What about the other precious metals? Silver is 0.4% higher, platinum is 0.2% higher and palladium is 0.6% higher. So the main precious metals’ prices are higher this morning.

Yesterday’s JOLTS Job Openings release has been better than expected at 11.26M. Today we will get the important Consumer Price Index release at 8:30 a.m. We will also get the Main Refinancing Rate and Monetary Policy Statement releases from the ECB at 7:45 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.

Thursday, March 10

• 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
• 8:30 a.m. U.S. – CPI m/m, Core CPI m/m, Unemployment Claims
• 8:30 a.m. Eurozone – ECB Press Conference
• 1:01 p.m. U.S. – 30-y Bond Auction
• 5:15 p.m. Australia – RBA Governor Lowe Speech

Friday, March 11

• 8:30 a.m. Canada – Employment Change, Unemployment Rate
• 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations

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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