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Gold Daily News: Wednesday, March 25

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Published : March 25th, 2020
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Category : GoldWire

The gold futures contract gained 5.95% on Tuesday, as it extended its Monday's rally following Sunday's Fed unlimited Quantitative Easing announcement. Yellow metal has retraced all of the recent sell-off, as it got back very close to its March 9 medium-term high of $1,704.30 yesterday. Today, gold is retracing some the advance.

Gold is 0.4% down this morning, as it fluctuates following Monday's-Tuesday's rally. What about the other precious metals? Silver gained 7.51% on Tuesday and today it is down 0.6%. Platinum has rallied by 11.82% yesterday and today it is gaining additional 2.0%. Palladium gained 14.77% on Tuesday and today it is gaining 6.3%.

The financial markets continue reacting to the mentioned Sunday's Fed announcement. The stock market has basically crashed along with precious metals prices a week ago. Stocks retrace some of their decline this week and gold is back at medium-term high again. The scheduled economic data releases have been less important than the mentioned virus crisis developments recently. However, yesterday's U.S. Flash Services PMI number release came in much worse than expected. 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 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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