Gold is near its record high again, as markets factor geopolitics, data.
The gold futures contract lost 0.79% on Friday, March 21, as it retraced some of its recent advances, pulling back from the record high. Last week, gold kept rallying amid geopolitics, stock market’s uncertainty and weak 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 approaching its all-time high, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 1.3% higher, as it is trading above the $3,060 level again. What about the other precious metals? Silver is 0.7% higher, platinum is 0.5% lower and palladium is 0.6% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the key Flash Manufacturing PMI and Flash Services PMI numbers at 9:45 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 24
- 4:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 4:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 5:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 5:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 1:45 p.m. U.S. - FOMC Member Bostic Speech
- 2:00 p.m. U.K. - BOE Governor Bailey Speech
- 3:10 p.m. U.S. - FOMC Member Barr Speech
Tuesday, March 25
- 5:00 a.m. Eurozone - German ifo Business Climate
- 8:40 a.m. U.S. - FOMC Member Kugler Speech
- 9:00 a.m. U.S. - S&P/CS Composite-20 HPI y/y, HPI m/m
- 9:05 a.m. U.S. - FOMC Member Williams Speech
- 10:00 a.m. U.S. - CB Consumer Confidence, New Home Sales, Richmond Manufacturing Index
- 8:30 p.m. - Australia - CPI y/y
Paul Rejczak
Stock Trading Strategist