gold investment, silver investment

paul-rejczak

Gold Daily News: Friday, April 17

April 17, 2020, 8:43 AM Paul Rejczak

The gold futures contract lost 0.49% on Thursday, as it retraced some more of the recent advance. The market broke above the short-term consolidation and it reached new medium-term high last week. On Tuesday it was the highest since November of 2012. The high was at $1,788.80. Mounting pandemic fears are supporting the demand side and gold is still acting as a safe haven asset.

Gold is 0.9% lower this morning, as it is below its Wednesday's and Thursday's daily trading ranges. What about the other precious metals? Silver gained 0.75% yesterday, as it extended its short-term consolidation. Today it is 2.4% lower. Platinum lost 1.40% on Thursday and today it is 2.0% lower. Palladium lost 1.53% on Thursday and today it is trading 0.2% higher.

Yesterday's U.S. Unemployment Claims release was slightly better than expected, despite surpassing 5 million. We may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy. The markets may be volatile on a quadruple witching day today - stock index futures, stock index options, stock options and single stock futures series expiration.

Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care

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Apr Market Overview

Gold Market Overview

There has never been such a crisis. In matter of days, economies all over the world froze up. The stock markets plunged and the Wall Street experienced its largest single-day percentage drop since Black Monday in 1987. In response, the central banks shoots monetary bazookas while the governments are announcing mammoth stimulus packages.

If you feel lost, if you do not know what to think about the epidemic and its impact on the global economy and the gold market, or if you feel that the world has gone mad, you should definitely read this edition of the Market Overview.

As always, we focus on the gold market, so we analyze thoroughly how the epidemic, global recession and the resulting monetary policy and fiscal policy response will affect the price of the yellow metal.

Read more in the latest Market Overview report.

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