Gold Daily News: Monday

February 24, 2020
Stock Market Strategist & Author

The gold futures contract gained 1.75% on Friday, as it accelerated its uptrend following breaking above $1,600 mark. The price of gold is the highest since the early 2013. Investors keep buying the safe-haven asset amid corona virus outbreak, economic slowdown fears. Today gold is much higher again.

Gold is extending its short-term uptrend this morning following an overnight daily gap-up opening. The gold price got closer to $1,700. Right now, it is 2.0% higher. What about the other precious metals? Silver gained 1.15% on Friday, as it got closer to the early January local high. This morning it is 1.3% higher. Platinum lost 0.30% on Friday, and it is down 1.2% right now. The metal bounced back off $1,000 mark. Palladium accelerated the uptrend recently and on Thursday and Friday it went sideways. On Friday it gained 1.22%. Palladium price is 1.9% lower today.

The financial markets are going risk-off since Friday, as corona virus fears are coming back again. Investors will now wait for tomorrow’s CB Consumer Confidence number release. But will the economic data be more important than the mentioned virus scare in the coming days. There will be a series of news releases this week.

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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.

Gold is using for heat dissipation in some cars.

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