gold investment, silver investment

paul-rejczak

Gold Daily News: Tuesday, March 24

March 24, 2020, 7:54 AM Paul Rejczak

The gold futures contract gained 5.59% on Monday following Sunday's Fed unlimited Quantitative Easing announcement. Yellow metal has retraced almost half of its recent sell-off, as it got back above the $1,550 level yesterday. Today, gold is extending that short-term rally and it gets closer to March 9 medium-term high of $1,704.30.

Gold is rallying 7.0% today following Euro vs. U.S. dollar advance, among other factors. It gets closer to the mentioned medium-term high. What about the other precious metals? Silver gained 7.07% on Monday and today it is gaining an additional 5.0%. Platinum has gained just 0.8% yesterday and today it is gaining 6.7%. Palladium gained 1.08% on Monday and today it rallies by almost 12%.

The financial markets react to the mentioned Sunday's Fed announcement. The stock market has basically crashed along with precious metals prices a week ago. Stocks retrace some of their decline this week and gold is back at medium-term high again. The scheduled economic data releases have been much less important than the mentioned virus crisis developments recently. However, some of last week's releases have showed a sharp downturn. Today, we will get relatively important U.S. PMI numbers release at 9:45 a.m. Take a look at our Monday's Market News Report to find out about this week's economic news releases!

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