gold investment, silver investment

paul-rejczak

Gold Daily News: Wednesday, February 26

February 26, 2020, 9:08 AM Paul Rejczak

The gold futures lost 1.59% on Tuesday, as it erased its Monday's rally. The price of gold has also retraced most of Friday's advance, before closing 23 dollars above the daily low. It clearly shows how high short-term volatility is. Investors were buying the safe-haven asset amid corona virus outbreak, economic slowdown fears recently. But gold is retracing a big chunk of that rally after bouncing off $1,700 mark.

Gold is gaining 0.2% this morning, as it fluctuates after yesterday's decline. What about the other precious metals? Silver lost 3.63% on Tuesday, as it retraced most of the recent advances. The price fell below $18 mark, before closing above it. Silver is currently 0.5% lower. Platinum lost 4.30% on Tuesday, and right now it is trading 0.7% lower. The metal bounced off $1,000 mark and now it gets closer to $900. Palladium was the only gainer yesterday, as it rallied 5.02%. The metal extends the short-term uptrend today, as it is gaining additional 0.8%.

The financial markets went risk-off since Friday, as corona virus fears came back again. Yesterday's CB Consumer Confidence release has been slightly worse than expected and it added fuel to a fire. The stock market has sold off again. But the economic data releases seem less important than the mentioned virus scare recently. Nevertheless, today we will have the usually important New Home Sales number release at 10:00 a.m. 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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Feb Market Overview

Gold Market Overview

Last month, we laid out our gold outlook for 2020. In the February edition of the Market Overview, we update our fundamental analysis to incorporate the latest data, in particular those about the US fiscal policy. As the bipartisan consensus is that deficits don't matter, the perspective for gold this year could be better than we previously thought. Second, we look beyond 2020 and sketch the fundamental trends that will likely shape the global economy and the gold market through the whole 2020s.

Moreover, we will analyze two important recent developments. The first one will be the 2019 repo crisis and the following Fed's intervention in this market. Second, the Riksbank has ended recently its experiment with negative interest rates. What does it all imply for the gold market? We invite you to read our Gold Market Overview and find out!

Read more in the latest Market Overview report.

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