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Gold Daily News: Thursday, April 2

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Published : April 04th, 2020
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Category : GoldWire

The gold futures lost 0.33% on Wednesday, as it slightly extended its Tuesday's decline. The market has retraced some more of last week's Monday's - Tuesday's rally and it remained below $1,600 mark. On Tuesday, the yellow metal has reacted to news about Russia's plan to stop gold purchases, among other factors. For now, it looks like a downward correction within an uptrend.

Gold is gaining 0.7% this morning, as it continues to fluctuate along its Tuesday's daily low. What about the other precious metals? Silver lost 1.22% on Wednesday and today it is 4.2% higher. Platinum lost 1.66% yesterday and today it is up 1.0%. Palladium lost 7.12% yesterday and today it is 6.9% lower. So precious metals are extending their short-term downtrend this morning.

Today's U.S. Unemployment Claims number release at 8:30 a.m. has been much worse than expected. It reached a stunning record high of 6.648 million. And we may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy. Take a look at our Monday's 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

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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.
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