Gold Fundamental Analysis October 1, 2012 Forecast

Posted September 28, 2012 15:50 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Gold is trading at 1776.85 down a bit after yesterday’s gain. Spot gold, stretching its previous session gains, advanced towards its seven month high it hit the previous week in tandem with movements in other commodities.

Spot gold prices gained 0.12 percent taking cues from optimism that Spanish measures to reduce its budget deficit may raise prospects that the nation might qualify for the international rescue plan. This led to rise in the risk appetite in the global markets in initial part of trade. Mixed trend in the DX also supported an upside in the gold prices. After the release of lackluster data in the US with consumer sentiment falling and Chicago PMI printing below 50, gold and silver both declined to show losses for the day but still positive for the week and the month.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data September 28, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Sep. 28

KRW

South Korean Industrial Production (YoY)

0.3%

0.4%

0.2%

JPY

Unemployment Rate

4.2%

4.3%

JPY

Tokyo Core CPI (YoY)

-0.4%

-0.3%

-0.5%

JPY

Industrial Production (MoM)

-1.3%

-0.5%

-1.0%

JPY

Retail Sales (YoY)

1.8%

-0.2%

-0.8%

EUR

French GDP (QoQ)

0.0%

0.0%

EUR

French Consumer Spending (MoM)

0.4%

-0.1%

0.4%

CHF

KOF Leading Indicators

1.67

1.57

1.59

EUR

CPI (YoY)

2.7%

2.4%

2.6%

USD

Core PCE Price Index (MoM)

0.1%

0.1%

CAD

GDP (MoM)

0.2%

0.2%

0.1%

USD

Personal Spending (MoM)

0.5%

0.5%

0.4%

USD

Chicago PMI

49.7

53.0

USD

Michigan Consumer Sentiment

78.3

79.0

79.2

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date	Time	Currency	Event	Forecast	Previous
Oct. 01	08:15	CHF	Retail Sales (YoY)	5.0%	3.2%
	08:30	CHF	SVME PMI	47.0	46.7
	15:00	USD	ISM Manufacturing Index	49.8	49.6

Government Bond Auction

Date Time Country

Oct 01 10:00 Norway

Oct 02 09:15 Austria

Oct 02 09:30 Belgium

Oct 02 09:30 UK

Oct 02 14:30 UK

Oct 03 09:10 Sweden

Oct 03 10:00 Norway

Oct 04 08:30 Spain

Oct 04 08:50 France

Oct 04 15:00 US

Oct 05 15:30 Italy

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About: FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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