Gold Daily News: Friday

March 13, 2020
Stock Market Strategist & Author

The gold futures lost 3.17% on Thursday, as it fell below $1,600 level and reached the daily low of $1,560.40. Yellow metal fell the lowest since early February following financial markets liquidity squeeze. Earlier in the week the market bounced off Monday’s new medium-term high of $1,704.30. Two weeks ago the gold price collapsed to the low of $1,564 despite an ongoing corona virusscare. However, the gold price retraced all of the decline last week, as virus fears reappeared. Yesterday it has retraced the advance again.

Gold is 1.3% higher this morning, as it gets closer to $1,600 level again. What about the other precious metals? Silver lost 4.60% on Thursday and today it is unchanged. Platinim lost 9.95% yesterday and this morning it gains 4.2%. Palladium lost a stunning 14.10% yesterday and today it is trading just 0.7% higher.

The financial markets continue reacting to news about corona virus . But today the risk-on assets are on the run, as traders await more stimulus news. Last week’s scheduled economic data releases haven’t moved markets by much. Today we will wait for the Preliminary Michigan Consumer Sentiment number release at 10:00 a.m.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too - it's free and if you don't like it, you can unsubscribe with just 2 clicks. If you sign up today, you'll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care

* * * * *

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.

*********

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.

Throughout history the ruling class has always sought to own gold and silver because they represent purity and longevity.

Gold Eagle twitter                Like Gold Eagle on Facebook