gold investment, silver investment


Gold Daily News: Monday, May 4

May 4, 2020, 9:03 AM Paul Rejczak

The gold futures contract gained 0.4% on Friday, as it retraced some of the recent declines. The price bounced off $1,675 level (the daily low at $1,676). Gold continues to trade within a downward correction following its April's advance. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal.

Gold is basically going sideways since early to mid April. It is trading above February-March local highs. So it looks like a consolidation within a medium-term uptrend.

Gold is trading 0.1% lower this morning. What about the other precious metals? Silver lost 0.23% on Friday and today it is trading 0.5% lower. Platinum lost 4.81% last Friday and today it is 0.5% higher. Palladium lost 3.49% and today it is up 0.8%. Precious metals continue to trade within a short-term consolidation.

Last week's economic data releases have revealed more coronavirus damage to the economy. There will be no important economic data releases today. Tomorrow we will get the ISM Non-Manufacturing PMI, among others. But investors will await Friday's U.S. monthly jobs data release. Take a look at our today's Market News Report to find out about this week's 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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