FXTM: ‘Fear of the Pandemic is Taking Control of Investors’

Live Spot Gold

SPOT MARKET IS OPEN
closes in 6 hrs. 55 mins.Mar 16, 2020 10:05 NY Time

Silver Price & PGMs

Mar 16, 2020 10:05 NY TimeKitco 10AM Silver Fix

Click on the metal names to
see the associated charts

401 G.C. NOTE : TO ALL OF OUR CUSTOMERS AT 401 G. C. , PLEASE TAKE TIME TO BACK AWAY FROM THE FINANCIAL MARKETS NOW. UNLESS YOU HAVE A SALE NECESSARY TO OFFSET LOSSES, MOST OF WHAT IS HAPPENING NOW IS COMPUTER ALGORITHMIC SELL ORDERS OF SECURITIES THAT ARE TRIGGERED BY LARGE DROPS IN THE MARKETS. ADVICE ? STAY PUT WITH YOUR CASH AND ANY OTHER MARKET SECURITIES YOU OWN , THIS MARKET CORRECTION WILL SUBSIDE ON THE FIRST SIGN OF GOOD NEWS , LET IT.

JACK DEMPSEY, PRESIDENT

401 GOLD CONSULTANTS LLC

jdemp2003@gmail.com

(Kitco, Mon. March 16th, 2020) – Global investors are succumbing to fears about the ultimate economic impact of the COVID-19 virus, said Hussein Sayed, chief market strategist at FXTM. U.S. stock-market futures hit their daily limit-down level in electronic trading Sunday night, then the so-called “circuit breaker” temporary closure was triggered after Wall Street opened sharply lower Monday morning. All of this came after the Federal Reserve slashed its benchmark interest rate to zero and announced quantitative easing on Sunday. “The coronavirus outbreak is proving to be stronger than any measures taken by governments and central banks,” Sayed said. Other central banks also announced measures, including China, where the coronavirus outbreak hit first. “It’s becoming evident that the major central banks across the globe are using all their available tools to prevent a crisis, but it seems the fear of the pandemic is taking control of investors,” Sayed commented. The longer the outbreak and emergency measures last, the harder the global economy will be hit. “A recession seems almost impossible to prevent at this stage, but the question remains, how bad is it going to be?” Sayed cited Chinese economic data released Monday as an example of how bad conditions could become. “Industrial production plunged 13.5% in the first two months of the year; that’s the worst reading ever for the sector,” Sayed said. “Retail sales fell 20.5% as consumers were locked at home, fixed-income investments dropped 24.5%, and the jobless rate rose to a record 6.2%. While China has started to recover from the epidemic, we do not expect to see a V-shaped recovery.” 

Posted by :

Jack Dempsey, President

401Gold Consultants LLC

jdemp2003@gmail.com