In the same category

Gold Daily News: Monday, April 6

IMG Auteur
Published : April 06th, 2020
225 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
Our Newsletter...
Category : GoldWire

The gold futures contract gained 0.49% on Friday, as it retraced more of the short-term decline following bouncing off $1,700 level in late March. The yellow metal is slowly getting back to the March 9 medium-term high of $1,704.30 again. Mounting pandemic fears are supporting the demand side and gold is acting as a safe haven asset. For now, it looks like a consolidation within an uptrend.

Gold is gaining 1.4% this morning, as it is extending its short-term uptrend. What about the other precious metals? Silver lost 1.09% on Friday and today it is 2.5% higher. Platinum lost 1.63% on Friday and today it is up 1.1%. Palladium lost 0.74% on Friday and today it trades 3.6% lower. So precious metals prices are mixed this morning.

Friday's U.S. Nonfarm Payrolls along with the Unemployment Rate releases have been worse than expected. However, it wasn't that surprising after the recent Unemployment Claims numbers. And we may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy. Today, investors will wait for the Bank of Canada Business Outlook Survey release at 10:30 a.m. Take a look at our Market News Report to find out about this week's economic news releases.

Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care

<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Przemyslaw Radomski is the founder, owner and the main editor of Being passionately curious about the market’s behavior he uses his statistical and financial background to question the common views and profit on the misconceptions. “Don’t fight the emotionality on the market – take advantage of it!” is one of his favorite mottos. His time is divided mainly to analyzing various markets with emphasis on the precious metals, managing his own portfolio, writing commentaries, essays and developing financial software. Most of the time he’s got left is spent on reading everything he can about the markets, psychology, philosophy and statistics. Mr. Radomski has started investigating the markets for his private use well before starting his professional career. He used to work as an informatics consultant, but this time-consuming profession left him little time for his true passion – the interdisciplinary market analysis. Establishing gave him the opportunity to put his thoughts, ideas, and experience into form available to other investors.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow