Commodity Blog

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Video: Gold in Middle of Week April 27 – May 1, 2020

April 29, 2020 at 13:51 by Vladimir Vyun

In the present video, Phil Carr from The Gold and Silver Club talks about gold in the middle of the week of April 27 – May 1, 2020. He starts with an explanation of what factors will be affecting the metal this week, namely, monetary policy meetings of the two major central banks — the Federal Reserves and the European Central Bank. Next, he reminds traders that profits can be made not just when a commodity goes up but also shorting in anticipation of a downside move. And the dollar often goes up at the start of May, pushing gold lower, but traders should watch for confirmation that it is the case this year and not to sell the metal blindly.

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