gold investment, silver investment

paul-rejczak

Gold Daily News: Monday, March 2

March 2, 2020, 9:05 AM Paul Rejczak

The gold futures contract lost 4.61% on Friday, as it retraced its whole February advance in just one day. The price collapsed below $1,600 mark despite the ongoing corona virus scare. The recent short-term volatility marked a topping pattern before that sell-off. Investors were buying safe-haven asset amid corona virus outbreak, economic slowdown fears recently. But then gold bounced off $1,700 mark and reversed the uptrend.

Gold is 0.3% higher this morning, as it fluctuates following Friday's collapse. What about the other precious metals? Silver lost a stunning 7.21% on Friday. Today it is just 0.2% higher. Platinum lost 4.51% on Friday, and right now the metal is trading 0.9% lower. It extends the sell-off below $900. Palladium lost 8.14% on Friday after bouning off the all-time high level. Right now it is 2.6% lower.

The financial markets went full risk-off last week, as corona virus fears dominated the news. This week is beginning with a lot of uncertainty and volatility. Investors will wait for the ISM Manufacturing PMI release at 10:00 a.m. today. However, economic data releases have been overshadowed by the virus scare recently. Will the other news move markets in the near future? On Friday we will get the important U.S. monthly jobs data release. Take a look at our Today's Market News Report to find out more!

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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