gold investment, silver investment

paul-rejczak

Gold Daily News: Monday, April 20

April 20, 2020, 9:06 AM Paul Rejczak

The gold futures contract lost 1.90% on Friday, as it retraced more of its recent advances. 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 were supporting the demand side and gold was acting as a safe haven asset. But since last Tuesday we've seen some profit-taking action and a potential downward reversal.

Gold is unchanged this morning, as it trades along Friday's daily low. What about the other precious metals? Silver lost 2.09% on Friday, as it continued to trade within a short-term consolidation. Today it is 0.3% higher. Platinum lost 1.00% on Friday and today it is 0.1% higher. Palladium gained 0.48% last Friday and today it is trading 1.4% higher.

Last week's economic data releases have revealed more coronavirus damage to the economy. Thursday's Unemlpoyment Claims number has surpassed 5 million. There will be no new important economic news releases today. However, please take a look at our today's Market News Report to find out about the coming economic data releases.

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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