Gold Daily News: Monday

February 10, 2020

The gold futures contract gained 0.22% on Friday, as it slightly extended its short-term uptrend. The market has retraced some more of Tuesday’s decline following bouncing off $1,550 support level on Wednesday. Overall, gold continues to trade within a month-long consolidation following the early January rally over $1,600 mark.

This morning, gold is 0.1% higher, as it basically continues going sideways. What about the other precious metals? Silver lost 0.71% on Friday, as it remained within a short-term consolidation after bouncing of $17.50 support level. It is currently 0.5% higher. Platinum gained 0.2% on Friday, and right now it is up 0.5%. Palladium lost 1.21% on Friday, as it extended its short-term sell-off after reaching close to the record high again. But it is 2.80% higher this morning.

The financial markets are still looking at China virus crisis developments. But the sentiment improved following last week’s record-breaking U.S. stock market’s rally. There will be no new important economic data releases today. However, the markets will await some FOMC Members speeches.

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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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