Daily Gold News: Wednesday, Mar. 31 – Gold Remains Below $1,700

The gold futures contract lost 1.67% on Tuesday, as it accelerated its Monday’s breakdown below short-term consolidation following rebound from March 8th local low of $1,763.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is fluctuating after the decline, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is virtually unchanged this morning, as it is trading along yesterday’s daily close. What about the other precious metals? Silver is 0.2% higher, platinum is 1.6% higher and palladium is 1.4% higher today. So precious metals are mixed this morning.

Yesterday’s CB Consumer Confidence release has been much better than expected at 109.7. Today we will get the ADP Non-Farm Employment Change release, among others.

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

Wednesday, March 31

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change
• 8:30 a.m. Canada – GDP m/m
• 9:45 a.m. U.S. – Chicago PMI
• 10:00 a.m. U.S. – Pending Home Sales m/m

Thursday, April 1

• 7:30 a.m. U.S. – Challenger Job Cuts y/y
• 8:30 a.m. U.S. – Unemployment Claims
• 9:45 a.m. U.S. – Final Manufacturing PMI
• 10:00 a.m. U.S. – ISM Manufacturing PMI , Construction Spending m/m, ISM Manufacturing Prices
• All Day – OPEC-JMMC Meetings
• All Day, Australia – Bank Holiday

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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