gold investment, silver investment


Gold Daily News: Monday, April 6

April 6, 2020, 8:33 AM Paul Rejczak

The gold futures contract gained 0.49% on Friday, as it retraced more of the short-term decline following bouncing off $1,700 level in late March. The yellow metal is slowly getting back to the March 9 medium-term high of $1,704.30 again. Mounting pandemic fears are supporting the demand side and gold is acting as a safe haven asset. For now, it looks like a consolidation within an uptrend.

Gold is gaining 1.4% this morning, as it is extending its short-term uptrend. What about the other precious metals? Silver lost 1.09% on Friday and today it is 2.5% higher. Platinum lost 1.63% on Friday and today it is up 1.1%. Palladium lost 0.74% on Friday and today it trades 3.6% lower. So precious metals prices are mixed this morning.

Friday'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. Today, investors will wait for the Bank of Canada Business Outlook Survey release at 10:30 a.m. Take a look at our Market News Report to find out about this week's economic news 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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