Gold Daily News: Monday

March 16, 2020
Stock Market Strategist & Author

The gold futures lost a stunning 4.63% on Friday following risk-on assets’ rebound. Yellow metal fell the lowest since late December. Earlier last week the market bounced off new medium-term high of $1,704.30. Two weeks ago the gold price collapsed to the local low of $1,564 despite an ongoing corona virus scare. However, the gold price retraced all of the decline recently, as virus fears reappeared. Then on Thursday and Friday it has reversed sharply lower. Today gold is trading below $1,500.

Gold is 4.9% lower this morning, as it breaks below $1,500 level. What about the other precious metals? Silver lost 9.40% on Friday and today it is 14.3% lower! Platinum lost 4.85% yesterday and this morning it is down another 12.2%.Palladium crashed 21.19% yesterday and today it is 13.0% lower.

The financial markets react to a sudden Fed’s interest rate cut decision and the new QE announcement. The stock market is crashing along with precious metals prices. The scheduled economic data releases are much less important than virus crisis developments. However, investors will likely await tomorrow’s German ZEW Economic Sentiment and the U.S. Retail sales releases. Take a look at our today’s Market News Report to find out more!

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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's special properties mean that it has a greater variety of uses than almost any metal.

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