Daily Gold News: Wednesday, Mar. 30 – Gold Price Remains Above the $1,900 Level

Gold Price Recap

The gold futures contract lost 1.12% on Tuesday, Mar. 29., as it extended its Monday’s decline of 0.7%. The market retraced the recent advance and it broke below the $1,900 level again. However, it closed above it. This morning the yellow metal is trading along its yesterday’s daily closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.1% higher this morning, as it is trading above the $1,900 level. What about the other precious metals? Silver is 0.4% higher, platinum is 0.2% higher and palladium is 2.0% higher. So the main precious metals’ prices are slightly higher this morning.

Gold Fundamental Analysis and Economic News Schedule

Yesterday’s JOLTS Job Openings and CB Consumer Confidence releases have been better than expected. Today we will get the important ADP Non-Farm Employment Change release at 8:15 a.m. and the Final GDP number release at 8:30 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 30

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change
• 8:30 a.m. U.S. – Final GDP q/q, Final GDP Price Index q/q

Thursday, March 31

• 8:30 a.m. U.S. – Core PCE Price Index m/m, Unemployment Claims, Personal Income m/m, Personal Spending m/m
• 9:00 a.m. U.S. – FOMC Member Williams Speech
• 9:45 a.m. U.S. – Chicago PMI
• All Day – OPEC-JMMC Meetings

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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