Daily Gold News: Tuesday, Mar. 22 – Gold Price Extends its Consolidation

Gold price analysis

The gold futures contract gained just 0.01% on Monday, as it fluctuated within a short-term consolidation. On Friday it lost 0.7% and on Thursday it gained 1.8%. The market continues to trade above the $1,900 price level after retracing most of the recent rally to the March 8 local high of $2,078.80. This morning gold is extending its consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.3% lower this morning, as it is still trading below the $1,950 level. What about the other precious metals? Silver is 0.5% lower, platinum is 0.8% lower and palladium is 2.4% lower. So the main precious metals’ prices are lower this morning.

Today we will get the Richmond Manufacturing Index release at 10:00 a.m.

The markets will continue to react to the ongoing Russia-Ukraine war news.

Economic News Schedule

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

Tuesday, March 22

• 9:15 a.m. Eurozone – ECB President Lagarde Speech
• 10:00 a.m. U.S. – Richmond Manufacturing Index
• 10:35 a.m. U.S. – FOMC Member Williams Speech

Wednesday, March 23

• 8:00 a.m. U.S. – Fed Chair Powell Speech
• 8:00 a.m. U.K. – BOE Governor Bailey Speech
• 10:00 a.m. U.S. – New Home Sales
• 3:00 p.m. U.S. – FOMC Member Bullard Speech
• 9:05 p.m. U.S. – FOMC Member Bullard Speech

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

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