The gold
futures contract gained 1.09% on Thursday, as it kept fluctuating after Monday’s – Tuesday’s rally. The market reacted to Sunday’s
Fed unlimited
Quantitative Easing announcement. Yellow metal has retraced all of the previous sell-off, as it got back close to March 9 medium-term high of $1,704.30. Since then, gold trades within a relatively volatile short-term consolidation.
Gold is down 0.2% this morning, as it continues to fluctuate following the mentioned Monday’s-Tuesday’s rally. What about the other precious metals?
Silver lost 1.32% yesterday and today it is trading 1.3% lower.
Platinum has lost 1.13% on Thursday and today it is 0.7% up.
Palladium rallied by 25.78% on Wednesday and yesterday it lost just 0.96%. This morning it is unchanged. So precious metals’ prices are fluctuating after their recent rallies.
The financial markets went risk-on following the mentioned Sunday’s Fed announcement. The
stock market has retraced some of its recent sell-off. But today, bearish sentiment is prevailing again. The scheduled economic data releases have been less important than the mentioned virus crisis developments recently. However,
yesterday’s record-breaking weekly Unemployment Claims number has been quite shocking. The next set of data releases may reveal more
coronavirus damage to the economy.
Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too - it's free and if you don't like it, you can unsubscribe with just 2 clicks. If you sign up today, you'll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts.
Sign up for the free newsletter today!
Thank you.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
* * * * *
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.