gold investment, silver investment

paul-rejczak

Gold Daily News: Friday, May 15 - Is Gold Breaking Higher?

May 15, 2020, 9:13 AM Paul Rejczak

The gold futures contract gained 1.43% on Thursday as it broke above the recent consolidation. Gold price has retraced more of its month-long decline from April's high. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Since then we've seen some profit-taking action and a potential medium-term downward reversal. But today, gold is breaking above yesterday's trading range following worse-than-expected U.S. Retail Sales release.

Gold is gaining 0.8% today, as it extends the short-term uptrend. Global financial markets are taking a little breather this week as investors cash their profits amid renewed coronavirus crisis worries. And gold is acting as a safe-haven asset. What about the other precious metals?: Silver gained 3.09% on Thursday and today it is 3.4% higher. Platinum gained 0.68% yesterday and today it is down 0.1%. Palladium gained 0.42% yesterday and today it is gaining 0.8%.

Last Friday's Nonfarm Payrolls and the Unemployment Rate along with this week's inflation numbers releases have confirmed coronavirus damage to the U.S. economy. And today, the U.S. Retail Sales number came much worse than expected at -16.4%. Investors will also wait for the Industrial Production release at 9:15 a.m., and the Preliminary UoM Consumer Sentiment along with the Business Inventories releases 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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