Daily Gold News: Mar. 14 – Gold Price Is Above $1,900
Gold extended its rally yesterday as the U.S. banking crisis stirred up the markets.
The gold futures contract gained 2.64% on Monday, Mar. 13 as it continued rallying following its Friday’s advance of 1.8% on an ongoing U.S. banking crisis. On Friday gold price broke above its recent local high, the stock market sold off and the U.S. dollar weakened. Earlier, on Tuesday gold was selling off after the Fed Chief Powell’s hawkish testimony. Then it bounced from Wednesday’s local low.
Today gold is trading slightly lower following the rally as we can see on the daily chart (the chart includes today’s intraday data):
The gold price is 0.5% lower this morning as it is trading above the $1,900 level. What about the other precious metals? Silver is 0.7% lower, platinum is 1.4% lower and palladium is 0.8% lower. So the main precious metals’ prices are lower this morning.
Yesterday we didn’t get any new important economic data releases. Today there will be the important Consumer Price Index release at 8:30 a.m. However, the markets will continue to react to the U.S. banking crisis news. It remains the hottest topic right now.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, Match 14
- 3:00 a.m. U.K. - Claimant Count Change, Average Earnings Index 3m/y, Unemployment Rate
- 8:30 a.m. U.S. - CPI m/m, CPI y/y, Core CPI m/m
- 5:20 p.m. U.S. - FOMC Member Bowman Speech
Wednesday, March 15
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
- 8:30 a.m. U.K. - Annual Budget Release
- 10:00 a.m. U.S. - Business Inventories m/m, NAHB Housing Market Index
- 4:00 p.m. U.S. - TIC Long-Term Purchases
- 8:30 a.m. Australia - Employment Change, Unemployment Rate, RBA Bulletin
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