Daily Gold News: Tuesday, Mar. 2 – Gold Bouncing From $1,700

Paul Rejczak
·3 min read

The gold futures contract lost 0.34% on Monday, as it fluctuated after breaking below the previous local low and a support level of $1,750. The market is the lowest since mid-June of 2020. This morning gold is bouncing from $1,700 price level, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% higher this morning, as it is trading along yesterday’s daily close. What about the other precious metals? Silver is 1.0% lower, platinum is virtually unchanged and palladium is 0.5% lower today. So precious metals are mixed this morning.

Yesterday’s ISM Manufacturing PMI release has been better than expected at 60.8. Today we will have some Fed-talk. The markets will be waiting for Friday’s monthly jobs data release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Tuesday, March 2

  • 8:30 a.m. Canada – GDP m/m

  • 1:00 p.m. U.S. – FOMC Member Brainard Speech

  • 2:00 p.m. U.S. – FOMC Member Daly Speech

  • 7:30 p.m. Australia – GDP q/q

  • 8:45 p.m. China – Caixin Services PMI

Wednesday, March 3

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change

  • 9:45 a.m. U.S. – Final Services PMI

  • 10:00 a.m. U.S. – ISM Services PMI

  • 1:00 p.m. U.S. – FOMC Member Evans Speech

  • 2:00 p.m. U.S. – Beige Book

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
Sign up for our free gold, stock, and oil newsletter today!

* * * * *


All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

This article was originally posted on FX Empire