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Gold Daily News: Tuesday, February 25

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Published : February 26th, 2020
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Category : GoldWire

The gold futures contract gained 1.69% on Monday, as it further accelerated its uptrend following breaking above $1,600 mark. The price of gold is the highest since early 2013. Investors keep buying the safe-haven asset amid corona virus outbreak, economic slowdown fears. Today gold is retracing some of that rally following bouncing off $1,700 mark.

Gold is retracing some of its recent rally this morning, as it is declining by 0.5%. What about the other precious metals? Silver gained 1.87% on Monday, as it got back to the early January local high. It was just below $19. This morning it is 1.3% lower. Platinum lost 0.19% on Monday, and it is 0.7% lower right now. The metal bounced back off $1,000 mark again. Palladium accelerated the uptrend recently and on Thursday and Friday it went sideways. Yesterday it lost 3.23%. Palladium price is 1.1% higher today.

The financial markets went risk-off since Friday, as corona virus fears came back again. Investors will now wait for today's CB Consumer Confidence number release. But will the economic data be more important than the mentioned virus scare in the coming days? There will be series of news releases this week. Take a look at our Monday's Market News Report to find out more!

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 www.SunshineProfits.com. 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 www.SunshineProfits.com gave him the opportunity to put his thoughts, ideas, and experience into form available to other investors.
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