Daily Gold News: Wednesday, Feb. 23 – Gold Price Remains Close to the $1,900 Level

The gold futures contract gained 0.40% on Tuesday following its Monday’s gain of 0.4%, as global markets continued reacting to Russia-Ukraine conflict news. The market extended its advance after breaking above the $1,900 price level. Tuesday’s daily high was at $1,918.30. This morning gold is retracing some of the advance, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading slightly below the $1,900 level again. What about the other precious metals? Silver is 0.1% higher, platinum is 0.5% higher and palladium is 1.3% higher. So the main precious metals’ prices are mixed this morning.

Yesterday’s U.S. Flash Manufacturing PMI/ Flash Services PMI and the CB Consumer Confidence releases have been better than expected. Today we won’t get any new economic data releases.

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

Wednesday, February 23

• No important economic data releases

Thursday, February 24

• 8:30 a.m. U.S. – Preliminary GDP q/q, Unemployment Claims, Preliminary GDP Price Index q/q
• 10:00 a.m. U.S. – New Home Sales
• 12:00 p.m. U.S. – FOMC Member Mester Speech
• 8:00 p.m. U.S. – FOMC Member Waller Speech

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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