Gold Daily News: Friday, April 3

The gold futures contract has gained 2.91% on Thursday. It retraced some of the recent decline, as the price got back above $1,600 mark again. The yellow metal continues to fluctuate following last weeks Mondays Tuesdays rally. On Tuesday, gold was declining following news about Russias plan to stop gold purchases and yesterday it went back higher. For now, it looks like a consolidation within an uptrend.


Gold is gaining 0.7% this morning, as it trades along yesterdays daily high. What about the other precious metals? Silver gained 4.79% on Thursday and today it is 0.7% higher. Platinum gained 1.70% yesterday and today it is down 1.2%. Palladium lost 0.89% yesterday and today it is 2.4% lower. So precious metals continue to fluctuate following early last weeks rally.

Todays U.S. Nonfarm Payrolls along with the Unemployment Rate releases have been worse than expected. However, it wasnt that surprising after the recent Unemployment Claims numbers. And we may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy. Investors will also wait for todays ISM Non-Manufacturing PMI release at 10:00 a.m.

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Thank you.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care

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