Daily Gold News: Tuesday, Feb. 22 – Gold Reached New Highs Amid Russia-Ukraine News

The gold futures contract gained 0.38% on Monday, as it extended its recent advances following breaking above the recent local highs. The market broke above the $1,900 level after more worrying news concerning Russia-Ukraine conflict. This morning gold is getting back below the $1,900 price level again. Before the intraday correction it reached the new local high closer to the $1,920 level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.4% lower this morning, as it is retracing some of its recent advance. What about the other precious metals? Silver is 0.2% higher, platinum is 0.6% higher and palladium is 0.6% higher. So the main precious metals’ prices are mixed this morning.

Today we will get the U.S. Flash Manufacturing PMI/ Flash Services PMI releases at 9:45 a.m. and the CB Consumer Confidence release at 10:00 a.m., among others. The markets will be reacting to Russia-Ukraine conflict news and we may expect further volatility.

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

Tuesday, February 23

• 4:00 a.m. Eurozone – German ifo Business Climate
• 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
• 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
• 10:00 a.m. U.S. – CB Consumer Confidence, Richmond Manufacturing Index
• All Day, Japan – Bank Holiday

Wednesday, February 24

• No important economic data releases

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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