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!
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Thank you.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
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Disclaimer
All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.