gold investment, silver investment

paul-rejczak

Gold Daily News: Thursday, March 5

March 5, 2020, 7:31 AM Paul Rejczak

The gold futures lost 0.09% on Wednesday, as it fluctuated following Tuesday's post-Fed's rate cut rally. On Friday the price collapsed to $1,564 level despite an ongoing corona virus scare. The recent short-term volatility marked a topping pattern before that sell-off. However, gold retraced its whole decline and yesterday it has been trading along short-term local highs, marked by $1,650 level.

Gold is gaining 0.7% this morning, as it continues to fluctuate along short-term local highs. What about the other precious metals? Silver gained 0.34% on Wednesday. Today it is unchanged. Platinum gained 0.68% on Wednesday. It continues to trade within a short-term consolidation following Friday's sell-off. This morning it is down 1.3%. Palladium lost 0.1% yesterday and today in the morning it is trading 1.8% lower.

The financial markets went full risk-off last week, as corona virus fears dominated the news. Then we saw a quick Friday's-Monday's relief rally. Tuesday's Fed's rate cut decision led to more short-term volatility, as stock sold off on Tuesday and then rallied on Wednesday. Yesterday we got the ADP Non-Farm Employment Change and the ISM Non-Manufacturing PMI numbers releases. They both have been better than expected and the stock market has rallied by over 4%. On Friday we will get the important U.S. monthly jobs data release. 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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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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