FXEMPIRE
All
Corona Virus
Stay Safe, FollowGuidance
World
6,514,412Confirmed
384,645Deaths
3,101,123Recovered
Fetching Location Data…
Advertisement
Advertisement

Daily Gold News: Wednesday, May 20 – Precious Metals Higher but Gold Unchanged

The market has reversed its short-term uptrend, as it fell below Friday’s daily trading range. Today, gold is trading along yesterday’s daily closing price.
Paul Rejczak
Gold, Silver, Platinum, Palladium

The gold futures contract gained 0.65% on Tuesday as it retraced some of Monday’s decline from new monthly high of $1,775.80. On Monday it has retraced almost all of its month-long decline from April 14 high of $1,788.80. The market has reversed its short-term uptrend, as it fell below Friday’s daily trading range. Today, gold is trading along yesterday’s daily closing price.

Gold is 0.1% lower today. Meanwhile, global financial markets continue to hover along their local highs. What about the other precious metals?: Silver gained 2.48% yesterday and today it is 0.4% higher. Platinum gained 2.43% and today it is 3.4% higher. Palladium gained 2.35% and today it is gaining another 3.8%. So precious metals other than gold are extending their short-term uptrend this morning.

The recent economic data releases have been confirming coronavirus damage to the U.S. economy. Yesterday’s U.S. Building Permits/ Housing Starts number have been as expected but lower than the previous ones. The Fed Chair Powell Testimony hasn’t been a real game-changer for the markets yesterday. Today we will get the FOMC Meeting Minutes release at 2:00 p.m. Take a look at our Monday’s Market News Report to find out about this week’s economic data announements.

Here’s Gold, Silver, and Mining Stocks economic news schedule for today:

  • 2:00 p.m. U.S. – FOMC Meeting Minutes
  • 10:30 p.m. Australia – RBA Governor Lowe Speech

Thank you for reading today’s quick gold news guide. If you enjoyed it, we invite you to read also our other gold market analyses. This includes our free Fundamental Gold Reports as well as premium Gold & Silver Trading Alerts with clear buy and sell signals and weekly premium Gold Investment Updates. Great way to check out all the above (also the premium services – free for 7 days!), is to sign up for our no-obligation free gold newsletter. We’ll only ask to whom (just the first name) and to what e-mail address we should be sending our analyses. Sign up today.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

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.

 

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Trade With A Regulated Broker

  • Your capital is at risk