gold investment, silver investment


Gold Daily News: Monday, May 11

May 11, 2020, 9:57 AM Paul Rejczak

The gold futures contract lost 0.69% on Friday as it continued to fluctuate along $1,700 price level. Gold is still trading within a flat correction following April's advance. 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 downward reversal.

The price of gold is basically going sideways along $1,700 mark since early to mid April and it's trading above February-March local highs. So it still looks like a consolidation within a medium-term uptrend.

The price of gold is gaining 0.2% this morning, as it is further extending the short-term consolidation. Global financial markets remain in a risk-on mode, as stocks hover along their medium-term local highs. What about the other precious metals?: Silver gained 1.21% on Friday and today it is trading 0.6% higher. Platinum gained 0.92% and today it is down 0.9%. Palladium lost 0.80% and today it is down 1.5%.

Friday's Nonfarm Payrolls and the Unemployment Rate release has confirmed coronavirus damage to the U.S. economy. We will now await Wednesday's Fed Chair Powell speech and Friday's Retail Sales number release, among others. Take a look at our today's Market News Report to find out about this week's economic data announements.

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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