Gold Daily News: Tuesday

The gold futures contract extended its uptrend on Monday, as it gained 0.49%. The market broke above its short-term consolidation and it reached new medium-term highs above $1,700 level. Yesterday it was the highest since November of 2012. Mounting pandemic fears are supporting the demand side and gold is still acting as a safe-haven asset.

Gold is 0.9% higher this morning, as it is further extending its medium-term uptrend. What about the other precious metals? Silver lost 3.21% yesterday and today it gains 1.3%. Platinum gained 0.2% yesterday and today it is up 3.6%. Palladium gained 2.9% on Monday  and today it is gaining additional 3.2%.

Last week’s Unemployment Claims number has been close to 7 million again. And we may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy. Investors will wait for tomorrow’s set of economic data releases. We will get the U.S. Retail Sales number, among others. Take a look at our Monday 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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