Daily Gold News: Friday, Feb. 18 – Gold at $1,900 Price Level Amid Russia-Ukraine Tensions
The gold futures contract gained 1.63% on Thursday, Feb 17, after gaining 0.8% on Wednesday, as it broke above a short-term consolidation following more worrying news concerning Russia-Ukraine tensions. The gold price broke above the $1,900 level yesterday and it was the highest since June of 2021. The market soared, as the conflict news hit again. This morning gold is retracing some of its yesterday’s rally, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.4% lower this morning, as it is trading slightly below the $1,900 price level. What about the other precious metals? Silver is 0.3% lower, platinum is 1.1% lower and palladium is 1.6% lower. So the main precious metals’ prices are lower this morning.
Yesterday’s Unemployment Claims release has been worse than expected at 248,000. Today we will get the Existing Home Sales and CB Leading Index releases at 10:00 a.m. and some more Fed-talk later in the day.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today.
Friday, February 18
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8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
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10:00 a.m. U.S. – Existing Home Sales, CB Leading Index m/m
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10:45 a.m. U.S. – FOMC Member Waller Speech
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11:00 a.m. U.S. – FOMC Member Williams Speech
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1:30 p.m. U.S. – FOMC Member Brainard Speech
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Tentative, U.S. – Fed Monetary Policy Report
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All Day – G20 Meetings
For a look at all of today’s economic events, check out our economic calendar.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
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Disclaimer
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This article was originally posted on FX Empire
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