Gold Daily News: Friday

February 14, 2020

The gold futures contract gained 0.46% on Thursday, as the yellow metal retraced its Wednesday’s-Thursday’s decline. The market is extending a month-long consolidation following January 8 run-up to new medium-term high of $1,613.30. It got back to the Tuesday’s local high, bu it is still below February 3 high of $1,598.50.

The recent China virus fears and news about virus case count revision didn’t scare risk-on assets’ investors, but gold remained close to short-term local highs. It is currently unchanged. The market trades along its Thursday’s daily high. What about the other precious metals? Silver gained 0.70% on Thursday, as it retraced some of the recent decline. It is trading 0.4% higher this morning. Platinium gained 0.77%, and today it is 0.5% higher. Palladium gained 1.23% yesterday, as it got closer to the record highs again. This morning it is gaining additional 0.7%.

The financial markets will be waiting for the U.S. Retail sales number release at 8:30 a.m. It will be one of the most important economic data announcements this week. And we highlighted it in our Monday’s Market News Report. There will also be the Industrial Production along with Capacity Utilization Rate release at 9:15 a.m., and the Preliminary Michigan Cosumer Sentiment number at 10:00 a.m.

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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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