gold investment, silver investment

paul-rejczak

Gold Daily News: Friday, March 13

March 13, 2020, 9:16 AM Paul Rejczak

The gold futures lost 3.17% on Thursday, as it fell below $1,600 level and reached the daily low of $1,560.40. Yellow metal fell the lowest since early February following financial markets liquidity squeeze. Earlier in the week the market bounced off Monday's new medium-term high of $1,704.30. Two weeks ago the gold price collapsed to the low of $1,564 despite an ongoing corona virus scare. However, the gold price retraced all of the decline last week, as virus fears reappeared. Yesterday it has retraced the advance again.

Gold is 1.3% higher this morning, as it gets closer to $1,600 level again. What about the other precious metals? Silver lost 4.60% on Thursday and today it is unchanged. Platinum lost 9.95% yesterday and this morning it gains 4.2%. Palladium lost a stunning 14.10% yesterday and today it is trading just 0.7% higher.

The financial markets continue reacting to news about corona virus. But today the risk-on assets are on the run, as traders await more stimulus news. Last week's scheduled economic data releases haven't moved markets by much. Today we will wait for the Preliminary Michigan Consumer 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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