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Gold Fundamental Analysis December 14, 2012, Forecast

By:
Barry Norman
Updated: Aug 21, 2015, 00:00 UTC

Analysis and Recommendations: Gold stumbled today, dipping 23.65 to trade at 1694.25. Gold struggled to make headway and tumbled more than one percent

Gold Fundamental Analysis December 14, 2012, Forecast
Gold Fundamental Analysis December 14, 2012, Forecast
Gold Fundamental Analysis December 14, 2012, Forecast

Analysis and Recommendations:

Gold stumbled today, dipping 23.65 to trade at 1694.25. Gold struggled to make headway and tumbled more than one percent after the US Fed’s new bond buying program pushed prices to two week high levels. US Policy makers’ expectations of lower growth forecast and inflation in the coming year supported prices. The Fed’s plan to purchase $45 billion long term treasuries each month on top of the $40 billion monthly buying of mortgage backed securities and decision to keep interest rates unchanged at zero until unemployment rates falls to 6.5 percent pushed gold’s inflation hedge appeal and propped up prices. Meanwhile, the Fed’s policy-setting panel remained concerned that the economic growth would not be strong enough without sufficient policy accommodation. The dollar index edged down after the meeting announcement while the euro inched up to one week high levels. At the same time, the holdings of the gold exchange traded funds drifted lower from its previous week’s record highs.

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 December 13, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 13

 

KRW

 

 

South Korean Interest Rate Decision 

2.75%

 

2.75% 

 

2.75% 

 

 

 

 

CHF

 

 

PPI (MoM) 

0.0%

 

-0.3% 

 

-0.1% 

 

 

 

 

CHF

 

 

Interest Rate Decision 

0.00%

 

0.00% 

 

0.00% 

 

 

 

 

GBP

 

 

CBI Industrial Trends Orders 

-12

 

-16 

 

-21 

 

 

 

 

USD

 

 

Core PPI (MoM) 

0.1%

 

0.2% 

 

-0.2% 

 

 

 

 

USD

 

 

Core Retail Sales (MoM) 

0.0%

 

-0.1% 

 

0.0% 

 

 

 

 

USD

 

 

PPI (MoM) 

-0.8%

 

-0.5% 

 

-0.2% 

 

 

 

 

USD

 

 

Retail Sales (MoM) 

0.3%

 

0.5% 

 

-0.3% 

 

 

 

 

USD

 

 

Initial Jobless Claims 

343K

 

370K 

 

372K 

   

 

 

USD

 

 

Continuing Jobless Claims 

3198K

 

3210K 

 

3221K 

   

 

 

USD

 

 

PPI (YoY) 

1.5%

 

1.8% 

 

2.3% 

 

 

 

 

USD

 

 

Core PPI (YoY) 

2.2%

 

2.2% 

 

2.1% 

   

 

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

Date

Time

Currency

Event

Forecast

Previous

Dec. 14

07:58

EUR

French Manufacturing PMI 

45.0 

44.5 

 

08:28

EUR

German Manufacturing PMI 

47.2 

46.8 

 

10:00

EUR

CPI (YoY) 

2.2% 

2.2% 

 

10:00

EUR

Core CPI (YoY) 

 

1.5% 

Government Bond Auction

Date Time Country 

Dec 14 11:00 Belgium 

Dec 14 15:30 UK 

Dec 17 10:10 Norway 

Dec 17 18:00 US 

Dec 18 01:30 Japan 

Dec 18 09:30 Spain 

Dec 18 10:10 Greece 

Dec 18 18:00 US 

Dec 19 18:00 US 

Dec 20 10:30 UK 

Dec 20 16:30 Italy  

Dec 20 18:00 US 

Dec 21 16:30 Italy  

 

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