Gold Fundamental Analysis December 28, 2012, Forecast

Analysis and Recommendations:

Gold continued to bounce around but is trading down 4.45 at this writing exchanging at 1656.25 trading in a fairly tight range since the close of the Asian session. All eyes are on the US, as the lawmakers resume negotiations to avert “fiscal cliff” looming over the world’s largest economy.  Precious metals are moving in tight ranges as investors adopted a wait and see policy as US Senate convenes for the budget talks today and tomorrow. In lackluster trades, spot gold was varying in narrow ranges $1649-1668 while, spot silver was seen trading in $29.50-30.50 ranges awaiting fresh cues for further directional moves.

Republican House of Representatives Speaker John Boehner urged the Democrat-controlled Senate to act to pull back from the so-called fiscal cliff and offered to at least consider any bill the upper chamber produced, raising hopes there may be a way through deadlock in Congress. The United States faces $109 billion in across-the-board spending cuts starting in January unless a deal is reached to either replace or delay them. Democrats want to switch the spending cuts to tax increases for the most part.

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 27, 2012 actual v. forecast

 

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

 

Upcoming Economic Events that affect the CAD and USD

Government Bond Auction

Date Time Country

None Scheduled Until 2013