gold investment, silver investment

paul-rejczak

Gold Daily News: Wednesday, April 1

April 1, 2020, 9:51 AM Paul Rejczak

The gold futures lost 2.84% on Tuesday, as it broke below its short-term consolidation. The market has retraced more of last week's Monday's - Tuesday's rally and it got slightly below $1,600 mark again. Yellow metal has reacted to news about Russia's plan to stop gold purchases, among other factors. For now, it looks like a downward correction within an uptrend.

Gold is down 0.3% this morning, as it fluctuates along yesterday's daily low. What about the other precious metals? Silver gained 0.17% on Tuesday and today it is 0.9% lower. Platinum gained 0.84% yesterday and today it is trading 2.5% lower. Palladium rallied by 4.88% yesterday and today it is 4.9% down. So precious metals are fluctuating following yesterday's gold price sell-off.

Today's ADP Non-Farm Employment Change release at 8:15 a.m. has been lower than expected. However, the financial markets are bouncing off their earlier intraday lows. Investors will now wait for the ISM Manufacturing PMI number release at 10:00 a.m. Last week's record-breaking weekly U.S. Unemployment Claims number has been quite shocking. And we may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy. 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

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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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