gold investment, silver investment

paul-rejczak

Gold Daily News: Thursday, February 27

February 27, 2020, 8:11 AM Paul Rejczak

The gold futures contract lost 0.42% on Wednesday, as it fluctuated after retracing most of Friday's-Monday's rally. The daily trading range reached over 30 dollars and it shows how high short-term volatility is. Investors were buying the safe-haven asset amid corona virus outbreak, economic slowdown fears recently. But gold has retraced a big chunk of that rally after bouncing off $1,700 mark.

Gold is gaining 0.7% this morning, as corona virus fears continue to dominate financial markets. What about the other precious metals? Silver lost 1.52% on Wednesday, as it got back to its Tuesday's daily low. And the price fell below $18 mark. Silver is currently 0.9% higher. Platinum lost 1.88% on Tuesday, and right now it is trading 0.2% higher. The metal bounced off $1,000 mark and it is getting closer to $900. Palladium was the only gainer again on Wednesday, as it advanced by 0.72%. However, it is retracing some of the short-term uptrend today, as it trades 1.2% lower.

The financial markets went risk-off since last Friday, as corona virus fears came back again. The economic data releases seem less important than the mentioned virus scare recently. Yesterday's New Home Sales number was better than expected but it didn't improve investors' sentiment that much. Today we will have the Durable Goods Orders along with Preliminary GDP number release at 8:30 a.m. Then at 10:00 the Pending Home Sales data will be released. Take a look at our Monday's Market News Report to find out more!

Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care

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Feb Market Overview

Gold Market Overview

Last month, we laid out our gold outlook for 2020. In the February edition of the Market Overview, we update our fundamental analysis to incorporate the latest data, in particular those about the US fiscal policy. As the bipartisan consensus is that deficits don't matter, the perspective for gold this year could be better than we previously thought. Second, we look beyond 2020 and sketch the fundamental trends that will likely shape the global economy and the gold market through the whole 2020s.

Moreover, we will analyze two important recent developments. The first one will be the 2019 repo crisis and the following Fed's intervention in this market. Second, the Riksbank has ended recently its experiment with negative interest rates. What does it all imply for the gold market? We invite you to read our Gold Market Overview and find out!

Read more in the latest Market Overview report.

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