gold investment, silver investment


Gold Daily News: Thursday, April 16

April 16, 2020, 8:04 AM Paul Rejczak

The gold futures contract lost 1.62% on Wednesday, as it retraced some of its recent adavance. The market broke above the short-term consolidation and it reached new medium-term high last week. On Tuesday it was the highest since November of 2012. The high was at $1,788.80. Mounting pandemic fears are supporting the demand side and gold is still acting as a safe haven asset.

Gold is 0.9% higher this morning, as it is gets closer to the medium-term high again. What about the other precious metals? Silver lost 3.87% yesterday, as it extended its short-term consolidation. Today it is up 0.9%. Platinum lost 1.84% on Wednesday and today it trades 1.7% higher. Palladium lost 1.46% yesterday and today it is trading 1.8% higher.

Yesterday's U.S. Retail Sales number release has been worse than expected. 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 are waiting the weekly Unemployment Claims release at 8:30. We will also get Housing Starts, Building Permits and the Philly Fed Manufacturing Index. Take a look at our Monday's 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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