Gold remains near its record high as investors await economic data.
The gold futures contract lost 0.34% on Monday, March 24, as it fluctuated following its Friday’s pullback. 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 nearing its records again, as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.4% higher, as it is trading along the $3,060 level again (new series of the futures contract). What about the other precious metals? Silver is 1.2% higher, platinum is 0.8% higher and palladium is 0.7% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the important CB Consumer Confidence release at 10:00 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).
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
Wednesday, March 26
- 3:00 a.m. U.K. - CPI y/y
- 8:30 a.m. U.S. - Durable Goods Orders m/m, Core Durable Goods Orders m/m
- 10:00 a.m. U.S. - FOMC Member Kashkari Speech
- 1:10 p.m. U.S. - FOMC Member Musalem Speech
- Tentative, U.K. - Annual Budget Release
Paul Rejczak
Stock Trading Strategist