For investors and traders who initially believe that gold pricing should be higher than current pricing, there has been an awakening of optimism that market sentiment shifts to a much more bullish opinion. This rebuilt solid bullish market sentiment is based on the notion that current US-China negotiations are progressing and moving closer to a solution.
This newfound optimism has resulted in very strong price developments in the precious metal complex as well as US stocks. Today, gold futures are experiencing a dynamic and robust rally, with the most active April Comex contract currently set at $ 1344.30. This is a direct result of today's rise of well over $ 22, a 1
The gain in gold as respectable as they are the dwarf of today's upward movement in palladium which has seen the greatest price advance both in dollars and percentage gains of any other precious metal. Palladium is on a whole new record high, and with the current price of $ 47, the price rating is now set at $ 1454.40.
Although a 90-day tariff truce that has been in force between these two superpowers is approaching the time in which tariffs will track from 10% to 25%, the recent statements of this administration have shown to a much more flexible timeline.
According to MarketWatch on Sunday President Trump tweeted about the trade talks and said "great progress is being made on sooooo many different fronts." He continued to tweet it, "our country has such great potential for future growth and greatness at an even higher level! "
Adding to the current optimism of trade, the dilemma speaks today in the European Union with regard to Brexit. The British parliament will again be forced to make a decision about five weeks. Peter Hug, global trading director at Kitco metals, said that the issues surrounding Brexit, "have the potential to track the entire continent, and dealers across the pond see increased physical demand for gold." His comment also mentioned the importance of the protocol of the Federal Reserve FOMC meeting, which will be released on Wednesday
Although the geopolitical problems that have triggered this significant rally in precious metal markets can move sideways at any time, Until market participants have renewed their sense of optimism and have expressed that by bidding on gold and palladium significantly higher and adding fuel to today's rally in US stocks.
Really many traders believe that anyway happy days are actually here again.
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