Gold Daily News: Tuesday

March 17, 2020
Stock Market Strategist & Author

The gold futureslost 1.99% on Monday, as it slightly extended its Friday’s sell-off. Yellow metal fell the lowest since late November of 2019 yesterday, before bouncing off a daily low of $1,450.90. 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 continues trading below $1,500.

Gold is 1.6% down on Tuesday morning, as it hovers along its yesterday’s daily low. What about the other precious metals? Silver lost another 11.61% on Monday and today it is 4.3% lower, as it trades below $13 per ounce. Platinum lost 11.59% yesterday and this morning it is down 3.4%. Paladium  gained 0.22% yesterday and today it is 2.3% lower.

The financial markets have been reacting to a sudden Fed’s interest rate cut decision and the new QE announcement yesterday. The stock market has basically crashed along with precious metals prices. The scheduled economic data releases have been much less important than virus crisis developments recently. However, take a look at our yesterday’s Market News Report to find out about this week’s economic news releases!

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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.

According to the Talmud you should keep one-third of your assets each in land, business interests, and gold.

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