Economic Events Impacting Gold Prices from March 11-15, 2024

Economic news Gold Prices: March 11-15, 2024

In the realm of financial markets, gold prices are often swayed by economic indicators and data releases. The week from March 11th to March 15th, 2024, holds several significant events that may exert a negative influence on gold prices.

Traders and investors should tread carefully and stay abreast of these economic developments to navigate potential market fluctuations.

Cost of Gold Today

Live Gold Price	Gold Spot Price Today
Gold Price per Gram	$65.26
Gold Price per Kilo	$65,256
Gold Price per Ounce(28.34 g)	$2,029.69

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Gold price chart in U.S. Dollar per ounce, Live gold price chart

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Economic news Gold Prices: March 11-15, 2024

• Tuesday, March 12th:

6:00 am (GBP) - Claimant Count Change:

The Claimant Count Change in the UK, measuring the number of people claiming unemployment benefits, can impact market sentiment. A rise in unemployment claims may be perceived as a sign of economic distress, potentially driving investors away from gold.

12:30 pm (USD) - Core CPI m/m, CPI m/m, CPI y/y:

The release of U.S. Consumer Price Index (CPI) data is critical. Any unexpected increases in inflation, as reflected in the CPI figures, may strengthen the U.S. dollar, diminishing the appeal of gold as an inflation hedge.

• Wednesday, March 13th:

6:00 am (GBP) - GDP m/m:

The Gross Domestic Product (GDP) monthly data release for the UK can provide insights into the country's economic health. Negative GDP growth may be perceived as an unfavorable economic indicator, potentially impacting gold prices.

12:30 pm (GBP) - Annual Budget Release:

The release of the UK's Annual Budget can influence investor sentiment. Fiscal policies outlined in the budget may affect economic expectations and, subsequently, gold prices.

• Thursday, March 14th:

12:30 pm (USD) - Core PPI m/m, Core Retail Sales m/m, PPI m/m, Retail Sales m/m, Unemployment Claims:

A barrage of U.S. economic indicators, including Producer Price Index (PPI), Retail Sales, and Unemployment Claims, may introduce volatility to the gold market. Positive economic data could strengthen the U.S. dollar, impacting gold negatively.

• Friday, March 15th:

2:00 am (CNY) - Industrial Production y/y:

China's Industrial Production data, reflecting the country's manufacturing output, can have global implications. A slowdown in industrial production might signal economic challenges and potentially influence gold prices.

Calendar Economic Gold Prices: March 11-15, 2024

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