gold investment, silver investment

paul-rejczak

Gold Daily News: Friday, April 3

April 3, 2020, 8:49 AM Paul Rejczak

The gold futures contract has gained 2.91% on Thursday. It retraced some of the recent decline, as the price got back above $1,600 mark again. The yellow metal continues to fluctuate following last week's Monday's - Tuesday's rally. On Tuesday, gold was declining following news about Russia's plan to stop gold purchases and yesterday it went back higher. For now, it looks like a consolidation within an uptrend.

Gold is gaining 0.7% this morning, as it trades along yesterday's daily high. What about the other precious metals? Silver gained 4.79% on Thursday and today it is 0.7% higher. Platinum gained 1.70% yesterday and today it is down 1.2%. Palladium lost 0.89% yesterday and today it is 2.4% lower. So precious metals continue to fluctuate following early last week's rally.

Today's U.S. Nonfarm Payrolls along with the Unemployment Rate releases have been worse than expected. However, it wasn't that surprising after the recent Unemployment Claims numbers. And we may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy. Investors will also wait for today's ISM Non-Manufacturing PMI 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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