Friday’s daily high was at $1,692.80, but closing price was $1,672.40. Recently the gold price collapsed to the low of $1,564 despite an ongoing corona virus scare. However, the market has retraced all of the decline last week, as virus fears have reappeared. Gold continued higher this morning, but then the market has managed to retrace all of its overnight advance.
Gold is gaining 0.1% this morning, as it trades within a short-term consolidation following Thursday’s-Friday’s rally. What about the other precious metals? Silver lost 0.75% on Friday and today it is trading 2.8% lower. Platinum gained 3.55% on Friday. It bounced after the previous Friday’s sell-off. This morning it is down 4.1%. Palladium lost 1.22% on Friday and it is 6.3% lower.
The financial markets continue to trade mostly on coronavirus news. In addition, Friday’s OPEC Meeting’s negative outcome caused the oil prices crash. So last week’s scheduled economic data releases haven’t moved markets. What about the coming week? We will have the U.S. inflation data released on Wednesday and Thursday, and the ECB monetary policy release on Thursday. Take a look at our today’s Market News Report to find out more!
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!
Stock Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care
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.