Gold Daily News

January 28, 2020

The gold futures gained 0.35% on Monday, as it extended its short-term uptrend. However, the market has retraced most of its yesterday’s intraday rally from the daily local high of $1,588.40. Gold continued to gain following China virus fears, among other factors. On Wednesday gold has bounced off $1,550 level, and since then it gained almost 2.5%. The market trades within a short-term uptrend as it is still retracing some of its move lower from the January 8 medium-term high.

The gold price is currently 0.2% lower, as the market fluctuates following yesterday’s intraday downward reversal. What about the other precious metals? The silver retraced some of its recent advance, but it continues to trade above $18 mark. It is currently 0.4% lower. Platinim got back below $1,000 mark on Friday, as it fell more than 1%. It is currently trading 0.4% up. The palladium regains some of its strength, as it trades 1.6% higher this morning.

The financial markets continue to focuse on the mentioned China virus crisis. But investors will wait for the important U.S. Consumer Confidence number release today at 10:00 a.m. There will also be the Durable Goods Orders release at 8:30 a.m. But all the attention is being focused tomorrow’s FOMC Monetary Policy Statement. Where would the price of gold go following the FOMC day? Take a look at our Monday’s Market News Report to find some clue.

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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.

10 karat gold is 41.7% pure gold.

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