Gold price remains near its new record high, trading above $3,000
The gold futures contract gained 0.33% on Friday, March 14, as it extended its record-breaking rally, reaching a new all-time high of $3,017.10. Gold keeps advancing on geopolitics, stock market’s uncertainty and a weaker USD.
On November 14, gold was the lowest since mid-September after dropping in a reaction to the presidential elections. Gold extended its decline from the late October high, reaching a local low of $2,541.50.
This morning, gold is fluctuating following its advances, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.2% higher, as it is trading above the $3,000 level. What about the other precious metals? Silver is 0.2% lower, platinum is 0.3% higher and palladium is 1.0% higher. So, the main precious metals’ prices are mixed this morning.
Friday’s UoM Consumer Sentiment release has been lower than expected at 57.9. Today, we will get the Retail Sales number at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Monday, March 17
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
- 10:00 a.m. U.S. - Business Inventories m/m, NAHB Housing Market Index
Tuesday, March 18
- 6:00 a.m. Eurozone - German ZEW Economic Sentiment
- 8:30 a.m. U.S. - Building Permits, Housing Starts, Import Prices m/m
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
- 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
- Tentative, Japan - BOJ Policy Rate, Monetary Policy Statement
Paul Rejczak
Stock Trading Strategist