Daily Gold News: Tuesday, Mar. 2 – Gold Bouncing From $1,700

The gold futures contract lost 0.34% on Monday, as it fluctuated after breaking below the previous local low and a support level of $1,750. The market is the lowest since mid-June of 2020. This morning gold is bouncing from $1,700 price level, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% higher this morning, as it is trading along yesterday’s daily close. What about the other precious metals? Silver is 1.0% lower, platinum is virtually unchanged and palladium is 0.5% lower today. So precious metals are mixed this morning.

Yesterday’s ISM Manufacturing PMI release has been better than expected at 60.8. Today we will have some Fed-talk. The markets will be waiting for Friday’s monthly jobs data release.

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

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

Wednesday, March 3

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change
• 9:45 a.m. U.S. – Final Services PMI
• 10:00 a.m. U.S. – ISM Services PMI
• 1:00 p.m. U.S. – FOMC Member Evans Speech
• 2:00 p.m. U.S. – Beige Book

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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