Gold Daily News: Thursday

The gold futures lost 0.33% on Wednesday, as it slightly extended its Tuesday’s decline. The market has retraced some more of last week’s Monday’s – Tuesday’s rally and it remained below $1,600 mark. On Tuesday, the yellow metal has reacted to news about Russia’s plan to stop gold purchases, among other factors. For now, it looks like a downward correction within an uptrend.

Gold is gaining 0.7% this morning, as it continues to fluctuate along its Tuesday’s daily low. What about the other precious metals? Silver lost 1.22% on Wednesday and today it is 4.2% higher. Platinum lost 1.66% yesterday and today it is up 1.0%. Palladium lost 7.12% yesterday and today it is 6.9% lower. So precious metals are extending their short-term downtrend this morning.

Today’s U.S. Unemployment Claims number release at 8:30 a.m. has been much worse than expected. It reached a stunning record high of 6.648 million. And we may see more bad economic data releases in the near future, as they will be revealing coronavirus damage to the economy.

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

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All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits' 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, Paul Rejczak 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. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s 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. Paul Rejczak, 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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