gold investment, silver investment


Gold Daily News: Thursday, April 23

April 23, 2020, 7:55 AM Paul Rejczak

The gold futures contract gained 2.99% on Wednesday as it retraced some of its recent decline. The market got back above $1,700 level again. On Tuesday a week ago it was the highest since November of 2012 and the local high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold is acting as a safe haven asset again.

Gold is 1.0% higher this morning, as it extends the short-term uptrend. What about the other precious metals? Silver has gained 3.09% yesterday and today it is 2.4% higher. Platinum gained 0.9% on Wednesday and today it is up 2.2%. Palladium lost 0.8% yesterday and today it is up 1.5%. So precious metals have retraced their Tuesday's declines.

Last week's economic data releases have revealed more coronavirus damage to the economy. The Unemployment Claims number surpassed 5 million. But on Tuesday, we've got much better than expected German ZEW Economic Sentiment number release. Today, the European PMI numbers were worse than expected, but the markets will await the U.S. Unemployment Claims release at 8:30 a.m. and the Flash Manufacturing/Services PMI's at 9:45 a.m. Take a look at our Monday'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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