The gold futures gained 0.09% on Thursday, as it fluctated following Wednesday's decline of over three percent. Yellow metal fell the lowest since late November of 2019 on Monday, before bouncing off from new medium-term low of $1,450.90. Then the market bounced off its new medium-term high at $1,704.30. Today gold retraces some of Wednesday's decline, as stocks reverse their intraday uptrend.
Gold is gaining 1.6% this morning. What about the other precious metals? Silver gained 3.1% on Thursday and today it is gaining additional 3.1% following bouncing off $12 price level. Platinum lost 1.36% yesterday and today it is up 3.9%. Palladium gained 7.72% yesterday and today it is 5.6% lower.
The financial markets continue to react to corona virus crisis news. The stock market has basically crashed along with precious metals prices early in the week. The scheduled economic data releases have been much less important than the mentioned virus crisis developments recently. However, 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
