gold investment, silver investment

paul-rejczak

Gold Daily News: Monday, March 9

March 9, 2020, 8:55 AM Paul Rejczak

The gold futures contract gained 0.26% on Friday after breaking slightly above the February 24 high of $1,691.70. Friday's daily high was at $1,692.80, but closing price was $1,672.40. Recently the gold price collapsed to the low of $1,564 despite an ongoing corona virus scare. However, the market has retraced all of the decline last week, as virus fears have reappeared. Gold continued higher this morning, but then the market has managed to retrace all of its overnight advance.

Gold is gaining 0.1% this morning, as it trades within a short-term consolidation following Thursday's-Friday's rally. What about the other precious metals? Silver lost 0.75% on Friday and today it is trading 2.8% lower. Platinum gained 3.55% on Friday. It bounced after the previous Friday's sell-off. This morning it is down 4.1%. Palladium lost 1.22% on Friday and it is 6.3% lower.

The financial markets continue to trade mostly on corona virus news. In addition, Friday's OPEC Meeting's negative outcome caused the oil prices crash. So last week's scheduled economic data releases haven't moved markets. What about the coming week? We will have the U.S. inflation data releases on Wednesday and Thursday, and the ECB monetary policy release on Thursday. 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

Did you enjoy the article? Share it with the others!

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.

menu subelement hover background