The Golden Report which could add Huge profit to your portfolio
Quick update-Recent long-term trade in gold was profitable, long entered at 1580-closed in 1679(Trailing stop loss), which added $7802 profit to our existing trading portfolio.
At the moment of publishing this report gold is trading at $1660 per ounce however the white metal is hovering around $16.90.The recent significant decline which we have witnessed in the major U.S Stock indices hasn't been seen since the end of the 2008 financial crisis. The Dow Jones which lost over 12% last week has recorded a new worst point drop on record, On the point basis, it was the worst ever in history. The record break selling hasn't been limited to the U.S equities only, other countries' stock markets are behaving in the same manner. The benchmark Brent crude oil price fell below $34 per barrel on March 8, 2020, which is the biggest oil drop in over three decades. Gold prices reached its seven-year high of $1703 on Monday however today The yellow metal showed weakness and lost over $50 currently trading at $1560 per ounce. Today We have also witnessed rebounds in the U.S equities market however after a major market sell-off today's correction should have been expected.
Traders and investors are in a panic mode as they are realizing the impact of cover-19 on the global economy could be much more severe than they previously thought to be. we Still believe analysts are underestimating the devastating effect COVID 19 could bring to the world economy as a whole. The increasing number of cases of the coronavirus within china and in other countries is seriously alarming. The U.S. Center for Disease Control has just issued a warning for Americans over 60 years old to stay home and not travel, if at all possible. According to reports As coronavirus cases rise, all of Italy is in lockdown. Italy now has confirmed more than 9,000 cases. Outside of mainland China, Italy now has the highest number of deaths in the world from COVID-19, the disease caused by the new coronavirus.
Summary-The Fed's Emergency Rate Cut, rapidly growing cases of COVID- 19, Continuous falling of U.S bond yield and DXY, Rising tension in U.S.-China trade talks, Significant drop in U.S major stock indices along with other major countries indices, Fear of slow Global economic growth all are supporting the safe-haven buying at the moment. We beleive the Global economic impact of covid-19 could be much more significant than most analyst thinks. Until we don't have the cure of this deadly virus we believe The selling in global financial markets wouldn't be over which will support the safe-haven bid. We also continue to see weakness in silver which dragged the Gold-silver ratio to three-decade high, level of 100 last week. The gold/silver ratio currently stands at 95.67 to 1, which means the amount of silver required to buy one ounce of gold. The long term picture of the Gold and silver market is strongly bullish, Analyzing the current situation within the sector we believe moderate price decline In Gold near the $1600- $1630 Range could be a bargain to enter long. At the moment we are not holding any position in our portfolio however once we will initiate a new trading position you will be informed.
At the moment of publishing this report gold is trading at $1660 per ounce however the white metal is hovering around $16.90.The recent significant decline which we have witnessed in the major U.S Stock indices hasn't been seen since the end of the 2008 financial crisis. The Dow Jones which lost over 12% last week has recorded a new worst point drop on record, On the point basis, it was the worst ever in history. The record break selling hasn't been limited to the U.S equities only, other countries' stock markets are behaving in the same manner. The benchmark Brent crude oil price fell below $34 per barrel on March 8, 2020, which is the biggest oil drop in over three decades. Gold prices reached its seven-year high of $1703 on Monday however today The yellow metal showed weakness and lost over $50 currently trading at $1560 per ounce. Today We have also witnessed rebounds in the U.S equities market however after a major market sell-off today's correction should have been expected.
Traders and investors are in a panic mode as they are realizing the impact of cover-19 on the global economy could be much more severe than they previously thought to be. we Still believe analysts are underestimating the devastating effect COVID 19 could bring to the world economy as a whole. The increasing number of cases of the coronavirus within china and in other countries is seriously alarming. The U.S. Center for Disease Control has just issued a warning for Americans over 60 years old to stay home and not travel, if at all possible. According to reports As coronavirus cases rise, all of Italy is in lockdown. Italy now has confirmed more than 9,000 cases. Outside of mainland China, Italy now has the highest number of deaths in the world from COVID-19, the disease caused by the new coronavirus.
Summary-The Fed's Emergency Rate Cut, rapidly growing cases of COVID- 19, Continuous falling of U.S bond yield and DXY, Rising tension in U.S.-China trade talks, Significant drop in U.S major stock indices along with other major countries indices, Fear of slow Global economic growth all are supporting the safe-haven buying at the moment. We beleive the Global economic impact of covid-19 could be much more significant than most analyst thinks. Until we don't have the cure of this deadly virus we believe The selling in global financial markets wouldn't be over which will support the safe-haven bid. We also continue to see weakness in silver which dragged the Gold-silver ratio to three-decade high, level of 100 last week. The gold/silver ratio currently stands at 95.67 to 1, which means the amount of silver required to buy one ounce of gold. The long term picture of the Gold and silver market is strongly bullish, Analyzing the current situation within the sector we believe moderate price decline In Gold near the $1600- $1630 Range could be a bargain to enter long. At the moment we are not holding any position in our portfolio however once we will initiate a new trading position you will be informed.
