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

Did you enjoy the article? Share it with the others!

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.

menu subelement hover background