gold investment, silver investment

paul-rejczak

Gold Daily News: Friday, April 24

April 24, 2020, 9:03 AM Paul Rejczak

The gold futures gained 0.41% on Thursday as it slightly extended its Wednesday's rally. The market got back above $1,700 level again. On Tuesday a week ago it was the highest since November of 2012 and the local high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold is acting as a safe haven asset again. Yesterday's daily high was at $1,764.20, however yellow metal closed the day more than 1% below that price level.

Gold is up 0.1% this morning, as it continues to fluctuate following the recent advance. What about the other precious metals? Silver has gained 0.14% on Thursday and today it gains 0.7%. Platinum gained 2.97% yesterday and today it is down 1.3%. Palladium gained 5.75% on Thursday and today it is up 2.2%. So precious metals trade within a short-term consolidation.

The recent economic data releases have revealed more coronavirus damage to the economy. Yesterday's Unemployment Claims number was above 4 million. However, Flash Manufacturing/Services PMI's releases weren't very bad. Today we've had mixed Durable Goods Orders data release. Investors will also wait for the Revised Michigan Sentiment number release at 10:00 a.m.

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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