The gold futures contract gained 1.09% on Thursday, as it kept fluctuating after Monday's – Tuesday's rally. The market reacted to Sunday's Fed unlimited Quantitative Easing announcement. Yellow metal has retraced all of the previous sell-off, as it got back close to March 9 medium-term high of $1,704.30. Since then, gold trades within a relatively volatile short-term consolidation.
Gold is down 0.2% this morning, as it continues to fluctuate following the mentioned Monday's- Tuesday's rally. What about the other precious metals? Silver lost 1.32% yesterday and today it is trading 1.3% lower. Platinum has lost 1.13% on Thursday and today it is 0.7% up. Palladium rallied by 25.78% on Wednesday and yesterday it lost just 0.96%. This morning it is unchanged. So precious metals' prices are fluctuating after their recent rallies.
The financial markets went risk-on following the mentioned Sunday's Fed announcement. The stock market has retraced some of its recent sell-off. But today, bearish sentiment is prevailing again. The scheduled economic data releases have been less important than the mentioned virus crisis developments recently. However, yesterday's record-breaking weekly Unemployment Claims number has been quite shocking. The next set of data releases may reveal more coronavirus damage to the economy.
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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' employees and associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
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