Daily Gold News: Tuesday, Mar. 15 – Gold Price Extends the Decline

The gold futures contract lost 1.22% on Monday, Mar. 14, following its Friday’s decline of 0.77%, as it retraced more of the recent rally. The market extends the decline this morning. On Mar. 8 gold reached the daily high of $2,078.80 and today it was as low as $1,923. The market is still trading on Russia-Ukraine conflict headlines. The yellow metal is now trading at its previous consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 1.2% lower this morning, as it is retracing more of the recent rally. What about the other precious metals? Silver is 1.6% lower, platinum is 2.0% lower and palladium is 1.6% higher. So the main precious metals’ prices are lower this morning.

Yesterday we didn’t get any new important economic data announcements. Today we will get the Producer Price Index release at 8:30 a.m. 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.

Tuesday, March 15

• 6:00 a.m. Eurozone – German ZEW Economic Sentiment
• 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Empire State Manufacturing Index
• 4:00 p.m. U.S. – TIC Long-Term Purchases
• All Day, Eurozone – ECOFIN Meetings

Wednesday, March 16

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
• 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m
• 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
• 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate, FOMC Economic Projections
• 2:30 p.m. U.S. – FOMC Press Conference
• 8:30 p.m. Australia – Employment Change, Unemployment Rate

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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