Gold and silver price forecast

Gold Daily News: Thursday, February 20

The price of gold broke slightly above its January 8 local high of $1,613.30, before closing the highest since the first half of 2013. Investors keep buying the safe-haven asset despite record-breaking stock market and rising U.S. dollar.

Gold is extending its short-term uptrend this morning, as it gains additional 0.4%. What about the other precious metals? Silver gained 0.89% on Wednesday, as it broke slightly above its late January local high. The price remains above $18 mark. But it is declining 0.2% this morning. Platinum gained 1.07% yesterday, and today it is 0.7% lower. The metal remains at $1,000 mark. Palladium accelerated the uptrend once again on Wednesday, as it gained 2.95%. However, it retraced most of its intraday advance yesterday. Palladium is 1.3% lower today.

The financial markets fluctuated following yesterday’s FOMC Meeting Minutes release. Stocks remained close to record highs, and gold extended the uptrend. However, the Fed news wasn’t a market-mover. Today we will wait for the Philly Fed Manufacturing Index release at 8:30 a.m. Will the data show coronavirus-related contraction? Take a look at our Monday’s Market News Report to find out more!

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Thank you.

Paul Rejczak
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.