Daily Gold News: Wednesday, Mar. 23 – Gols Is Still Trading Sideways

The gold futures contract lost 0.41% on Tuesday, Mar. 22, as it continued to fluctuate within a short-term consolidation. The market extended its fluctuations above the $1,900 level after retracing most of the rally to the March 8 local high of $2,078.80. This morning gold is still trading within a consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.4% higher this morning, as it is trading sideways. What about the other precious metals? Silver is 1.0% higher, platinum is 0.1% lower and palladium is 2.2 % higher. So the main precious metals’ prices are higher this morning.

Economic News and Schedule

Today we will get the New Home Sales release at 10:00 a.m. We will also have some Fed-talk along with a speech from the Fed Chair Powell at 8:00 a.m.

The markets will 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.

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

Thursday, March 24

• 4:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 8:30 a.m. U.S. – Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Current Account
• 9:10 a.m. U.S – FOMC Member Waller Speech
• 9:45 a.m. U.S – Flash Manufacturing PMI, Flash Services PMI

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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