Gold Daily News

February 5, 2020

The gold futures contract lost 1.70% on Tuesday, as it retraced most of the recent weeks’ advances in just one day of trading. The market has reached a local high of $1,598.50 on Monday and yesterday it fell to a daily low of $1,552.80. The sentiment towards risk-on assets much improved following corona virus fears easing, U.S. tech-stocks-led euphoria run-up.

Gold is currently up 0.1%, as it fluctates following yesterday’s decline. What about the other precious metals? Silver lost 0.6% yesterday, as it continued to retrace the recent advances. It is currently unchanged. Platininum lost 0.5% on Tuesday and today it gains 1.1%. However, the market is still below $1,000 mark following mid-January downward reversal. Palladium gained 4.6% on Tuesday and today it is gaining additional 2.0%, as it ratraces most of the recent decline off its new record high.

The financial markets are still looking at China virus crisis developments. However, the sentiment has further improved following yesterday’s U.S. stock market’s rally. The markets will wait for today’s economic data releases. We will get the ADP Non-Farm Employment Change number release at 8:15 a.m., Trade Balance at 8:30 a.m., and the important ISM Non-Manufacturing PMI at 10:00 a.m. Investors will surely wait for this week’s Friday’s Nonfarm Payrolls release. Where would the price of gold go following the NFP news?

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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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