Tuesday, March 22 – Gold Price Extends Its Consolidation

Gold price analysis

the gold the futures contract gained just 0.01% on Monday as it fluctuated in a short-term consolidation. On Friday it lost 0.7% and on Thursday it gained 1.8%. The market continues to trade above the $1,900 price level after retracing most of the recent rally to the March 8 local high of $2,078.80. This morning, gold is extending its consolidation, as seen on the daily chart (chart includes intraday data from today):

Gold is down 0.3% this morning as it is still trading below the $1,950 level. What about other precious metals? Money is 0.5% lower, platinum is 0.8% lower and palladium is 2.4% lower. The prices of the main precious metals are therefore down this morning.

Today we will have the Richmond Manufacturing Index release at 10:00 a.m.

Markets will continue to react to ongoing news about the Russian-Ukrainian war.

Economic News Calendar

Below you will find our Gold, silver and mining stocks economic news program for the next two trading days.

tuesday march 22

  • 9:15 a.m. Euro zone – Speech by Lagarde by the President of the ECB
  • 10:00 a.m. US – Richmond Manufacturing Index
  • 10:35 a.m. United States – Speech by FOMC member Williams

Wednesday March 23

  • 8:00 a.m. US – Speech by Fed Chairman Powell
  • 8:00 a.m. UK – Speech by BOE Governor Bailey
  • 10:00 a.m. United States – New Home Sales
  • 3:00 p.m. United States – Speech by FOMC Member Bullard
  • 9:05 p.m. United States – Speech by FOMC Member Bullard

Paul Rejczak
Equity Trading Strategist
Sunshine benefits: analysis. Care. Benefits.

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