gold investment, silver investment

paul-rejczak

Gold Daily News: Tuesday, April 21

April 21, 2020, 7:53 AM Paul Rejczak

The gold futures contract gained 0.73% on Monday, as it bounced off previous local highs. The market has reacted to an unprecedented oil prices crash and stock market's decline yesterday. Gold was acting as a safe haven asset. On last week's Tuesday it was the highest since November of 2012. The high was at $1,788.80. But since then we've seen some profit-taking action and a potential downward reversal.

Gold is 1.9% lower this morning, as it extends the short-term downtrend following another wave of oil prices historical sell-off. What about the other precious metals? Silver has gained 2.09% yesterday. Today it is 3.9% lower. Platinum gained 1.36% on Monday and today it is down 5.4%. Palladium lost 0.16% yesterday and today it is trading 13.3% lower. So precious metals are selling off this morning.

Last week's economic data releases have revealed more coronavirus damage to the economy. Thursday's Unemlpoyment Claims number has surpassed 5 million. There haven't been any new important economic news releases yesterday. But today, we've got much better than expected German ZEW Economic Sentiment number release at 5:00 a.m. It didn't help the risk-on markets that much, as stocks are set to open 1-2% lower today. We will also get the U.S. Existing Home Sales number at 10:00 a.m. Take a look at our Monday's Market News Report to find out about the coming 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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