Gold Fundamental Forecast – August 26, 2016

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Published: Aug 25, 2016, 10:49 UTC

Gold is down about $1 but directionless as traders sit on the sidelines ahead of Janet Yellen’s speech tomorrow. Gold is trading at 1328.65 as trader’s

Gold Fundamental Forecast – August 26, 2016

Gold is down about $1 but directionless as traders sit on the sidelines ahead of Janet Yellen’s speech tomorrow. Gold is trading at 1328.65 as trader’s balance expectations for a rate increase between September and December. Speculation about Federal Reserve policy has dictated investor sentiment all week. On Friday the Fed’s Janet Yellen will deliver a speech at the annual Jackson Hole Symposium. For investors, Jackson Hole is an ideal venue for the Fed boss to finally shed light on the central bank’s outlook. The Federal Reserve’s next policy meeting is scheduled for September 20-21, and will be accompanied by a revised summary of economic projections.

Previously, the precious metal had been little changed ahead of Yellen’s speech, which will be closely watched for further clues on interest rate policy.

Yellen is scheduled to address a meeting of central bankers in Jackson Hole, Wyoming. Recent hawkish comments from policymakers have raised investors’ expectations that she might adopt a less cautious tone on rates.

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August 26, 2016

Country	Name	Volatility	Previous
JPY	Tokyo CPI ex Food, Energy (YoY)	2	0.3
JPY	Tokyo CPI ex Fresh Food (YoY)	2	-0.4
JPY	Tokyo Consumer Price Index (YoY)	2	-0.4
JPY	National CPI Ex-Fresh Food (YoY)	2	-0.5
JPY	National CPI Ex Food, Energy (YoY)	2	0.4
JPY	National Consumer Price Index	2	-0.4
EUR	Gfk Consumer Confidence Survey	2	10
GBP	GDP (YoY)	2	2.2
GBP	GDP (QoQ)	2	0.6
USD	GDP Annualized	2	1.2
USD	GDP Price Index	2	2.2
USD	Personal Consumption (QoQ)	2	1.9
USD	Core Personal Consumption (QoQ)	2	1.7
USD	Markit PMI Composite	2
USD	Baker Hughes US Oil Rig Count	2