The gold futures contract gained 1.08% on Tuesday, as it accelerated its recent advance. The yellow metal broke above February 3 local high and $1,600 level, but it closed slightly below January 8 high of $1,613.30. Investors keep buying the safe-haven asset despite record-breaking stock market and rising U.S. dollar.
The recent China virus fears didn't scare risk-on assets' investors, however gold kept extending its short-term uptrend. This morning it gains 0.1%. What about the other precious metals? Silver gained 2.35% on Tuesday, as it got close to January local highs. The price is now above $18 mark and it's 0.2% higher this morning. Platinum gained 2.59% on Tuesday, and today it is gaining 1.3%. The metal is back above $1,000 mark again. Palladium accelerated the uptrend yesterday, as it gained 7.81%. Today, it is gaining additional 6.1%.
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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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