Gold Daily News

January 21, 2020

We’ve had an increase in gold futures price on Friday, as it gained 0.6%. The yellow metal is at its recent local highs of around $1,560. It still looks like a consolidation following January 8 run-up above $1,600 mark that ended with a sharp downturn. On Tuesday the market has rebounded off a local low of $1,536.40.

The gold price is close to week-long highs despite the overall short-term risk-on action on the financial markets following Wednesday’s U.S. and China Phase One trade deal signing. What about the other precious metals? Silver basically follows gold, as it trades along $18 mark. The price of platinum has stabilised following Thursday’s breakout above $1,000. But palladium has reached yet another new record high on Friday. The futures contract reached almost $2,300, before reversing lower and closing at $2,224.90. Still gaining 2.2%. Sovloatility is enormous there.

Right now, the price of gold gains 0.2%, silver and platinum are flat. But palladium gains additional 4%.

Today, the markets are quiet because of the Martin Luther King Jr. Day in the U.S. However, in the evening we will get the important Bank of Japan’s Monetary Policy Statement.

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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.

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Paul Rejczak is a stock market strategist, who has been known for quality of his technical and fundamental analysis since the late nineties. He is interested in forecasting market behavior based on both traditional and innovative methods of technical analysis. Paul has made his name by developing mechanical trading systems. Paul is the author of Sunshine Profits’ premium service for stock traders: Stock Trading Alerts.

One ounce of gold is so ductile it can be drawn into a wire 50 miles long

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