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Coronapocalypse and Gold - How High Is Too High for the Yellow Metal?
May 8, 2020, 8:01 AM$2,000, $5,000 or even the Jim Rickard's $50,000 as the next target for gold. How realistic are these figures - could we see the yellow metal at $5,000 or even higher amid the coronavirus crisis? We invite you thus to read our today's article and find out how high gold prices can go in this downturn.
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Gold Daily News: Thursday, May 7
May 7, 2020, 8:07 AMThe gold futures contract lost 1.29% on Wednesday as it retraced most of the short-term rebound from last Friday's daily low of $1,675. Gold is still trading within a relatively flat correction following April's advance. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal.
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Gold Daily News: Wednesday, May 6
May 6, 2020, 8:42 AMThe gold futures contract lost 0.16% on Tuesday as it continued to fluctuate within a short-term consolidation. On Friday the price bounced from $1,675 level. Gold is still trading within a relatively flat correction following April's advance. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal.
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Gold Daily News: Tuesday, May 5
May 5, 2020, 8:43 AMThe gold futures contract gained 0.73% on Monday, as it retraced some more of its recent decline. On Friday the price bounced off $1,675 level. Gold continues to trade within a relatively flat correction following April's advance. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal.
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Gold Daily News: Monday, May 4
May 4, 2020, 9:03 AMThe gold futures contract gained 0.4% on Friday, as it retraced some of the recent declines. The price bounced off $1,675 level (the daily low at $1,676). Gold continues to trade within a downward correction following its April's advance. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal.
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Gold Daily News: Friday, May 1
May 1, 2020, 8:22 AMThe gold futures contract extended its short-term downtrend on Thursday, as it lost 1.12%. It has fallen below $1,700 mark again. The market continues to trade within a downward correction following last week's advance. Price has bounced off the mid-April local high. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal.
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Gold Daily News: Thursday, April 30
April 30, 2020, 8:16 AMThe gold futures contract lost 0.51% on Wednesday but it's basically remained within Tuesday's trading range. The market continues to trade within a short-term downward correction following last week's advance. The price bounced off the mid-April local high. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold began acting as a safe haven asset again last week. This week gold remains relatively weak.
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Gold Daily News: Wednesday, April 29
April 29, 2020, 8:59 AMThe gold futures contract lost 0.09% on Tuesday, as it slightly extended its short-term downward correction following last week's advance. The market has bounced off the mid-April local high. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold began acting as a safe haven asset again. This week gold is relatively weak.
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Gold Daily News: Tuesday, April 28
April 28, 2020, 8:31 AMThe gold futures contract lost 0.68% on Tuesday, as it extended its short-term downward correction following last week's advance. The market has bounced off its mid-April local high. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold began acting as a safe haven asset again. It rallied and got closer to the mentioned medium-term high. Yesterday it has retraced a part of last week's rally.
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Gold Daily News: Monday, April 27
April 27, 2020, 8:46 AMThe gold futures lost 0.56% on Friday, as it retraced some of the recent rally. The market has bounced off its mid-April local high. On April 14 it was the highest since November of 2012 and the daily high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold began acting as a safe haven asset again. It rallied last week and got closer to the mentioned medium-term high.
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Financial Antivirus Stimulus Packages and Gold
April 24, 2020, 10:02 AMThe new coronavirus is unfortunately deadly not only for humans but also for global economy. The central banks have shot their bazookas, but the monetary policy is helpless during pandemic. So it didn’t take long to persuade governments to intervene and increase their spending. We invite you thus to read our today’s article about the financial policy in time of plague and find out what the fresh fiscal packages imply for the global economy and the gold market.
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Gold Daily News: Friday, April 24
April 24, 2020, 9:03 AMThe gold futures gained 0.41% on Thursday as it slightly extended its Wednesday's rally. The market got back above $1,700 level again. On Tuesday a week ago it was the highest since November of 2012 and the local high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold is acting as a safe haven asset again. Yesterday's daily high was at $1,764.20, however yellow metal closed the day more than 1% below that price level.
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Gold Daily News: Thursday, April 23
April 23, 2020, 7:55 AMThe gold futures contract gained 2.99% on Wednesday as it retraced some of its recent decline. The market got back above $1,700 level again. On Tuesday a week ago it was the highest since November of 2012 and the local high was at $1,788.80. Since then we've seen some profit-taking action and a potential downward reversal. But gold is acting as a safe haven asset again.
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Gold Daily News: Wednesday, April 22
April 22, 2020, 9:27 AMThe gold futures contract lost 1.37% on Tuesday as it retraced Monday's and fell below $1,700 price level again. The market is trading within a short-term downward correction following early April rally. On Tuesday a week ago it was the highest since November of 2012. Gold was acting as a safe haven asset. The high was at $1,788.80. But since then we've seen some profit-taking action and a potential downward reversal.
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Gold Daily News: Tuesday, April 21
April 21, 2020, 7:53 AMThe gold futures contract gained 0.73% on Monday, as it bounced off previous local highs. The market has reacted to an unprecedented oil prices crash and stock market's decline yesterday. Gold was acting as a safe haven asset. On last week's Tuesday it was the highest since November of 2012. The high was at $1,788.80. But since then we've seen some profit-taking action and a potential downward reversal.
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