Gold Fundamental Analysis December 19, 2012, Forecast

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Updated: Aug 21, 2015, 01:00 UTC

Analysis and Recommendations: Gold surprised investors to tumble to 1693.35 losing close to 5 dollars today. Gold had been trading up most of day, until

Gold Fundamental Analysis December 19, 2012, Forecast

Analysis and Recommendations:

Gold surprised investors to tumble to 1693.35 losing close to 5 dollars today. Gold had been trading up most of day, until news from Washington hit a positive note and traders moved off to find higher risk assets. Gold prices climbed to near one week high at on the MCX, bullion market today on firm buying triggered by sustained retail demand on the back of peak marriage season. Silver recovered smartly on bullish speculative off-take as well as renewed industrial demand.

Indications that the US lawmakers may reach on an accord to resolve the threat of the ‘fiscal cliff’ looming large over the economy improved the overall market sentiments lifting equities as well as commodities. Managing to sustain the previous session gains, spot gold was tad up and was hovering near $1700 an ounce as investors eyed the progress on the US budget talks. Also, activities remained subdued as year-end holiday’s approach, keeping prices in tight ranges.

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 18, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 18

AUD

Monetary Policy Meeting Minutes

INR

Indian Interest Rate Decision

8.00%

8.00%

SEK

Swedish Interest Rate Decision

1.00%

1.00%

1.25%

GBP

Core CPI (YoY)

2.6%

2.7%

2.6%

GBP

CPI (YoY)

2.7%

2.6%

2.7%

GBP

PPI Input (MoM)

0.1%

-0.1%

0.1%

GBP

CPI (MoM)

0.2%

0.2%

0.5%

GBP

PPI Input (YoY)

-0.3%

-0.5%

0.1%

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

Date	Time	Currency	Event	Forecast	Previous
Dec. 19	09:00	EUR	German Ifo Business Climate Index	102.0	101.4
	09:00	EUR	German Current Assessment	108.0	108.1
	09:00	EUR	German Business Expectations	96.3	95.2
	11:00	GBP	CBI Distributive Trades Survey	25	33
	13:30	USD	Building Permits	0.875M	0.868M
	13:30	USD	Housing Starts	0.870M	0.894M
Dec. 20	09:30	GBP	Retail Sales (MoM)	0.3%	-0.8%
	09:30	GBP	Retail Sales (YoY)	1.5%	0.6%
Dec. 21	07:00	EUR	GfK German Consumer Climate	5.9	5.9
	09:30	GBP	Current Account	-14.0B	-20.8B
	09:30	GBP	GDP (QoQ)	1.0%	1.0%
	09:30	GBP	GDP (YoY)	-0.1%	-0.1%