Gold Fundamental Analysis December 5, 2012 Forecast

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Updated: Aug 20, 2015, 23:00 UTC

Analysis and Recommendations: Gold tumbled close to 20.00 to trade at 1701.35 after dipping below the 1700 price level today. The overall market

Gold Fundamental Analysis December 5, 2012 Forecast

Analysis and Recommendations:

Gold tumbled close to 20.00 to trade at 1701.35 after dipping below the 1700 price level today. The overall market sentiments stayed subdued as worrisome fiscal situation and unanticipated decline in manufacturing activity in the world’s largest economy waned off investors’ risk appetite though, Greece’s plans to buy back debt soothed the market. The euro traded firm near its six week high following the Greek move while, commodities declined. Base metals in LME took a breather after the recent positive run up. Falling for the first time in four days, copper retreated from its six week high in LME, weighed down by the US economic and fiscal woes.

The deadlock on the budget deal continued in the US as the White House dismissed a “fiscal cliff” solution proposed by the Republicans the other day. Precious metals dropped in the international and domestic market. Gold shed around one per cent, falling towards its weakest in about a month. Silver followed a similar trend.

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 4, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 04

AUD

Building Approvals (MoM)

-7.6%

-2.0%

9.5%

AUD

Current Account

-14.9B

-14.8B

-12.4B

AUD

Interest Rate Decision

3.00%

3.00%

3.25%

AUD

RBA Rate Statement

EUR

Spanish Unemployment Change

74.30K

90.50K

128.20K

BRL

Brazilian Industrial Production (YoY)

2.3%

2.5%

-3.6%

CAD

Interest Rate Decision

1.00%

1.00%

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

Date	Time	Currency	Event	Forecast	Previous
Dec. 05	10:00	EUR	Retail Sales (MoM)	-0.1%	-0.2%
	13:15	USD	ADP Nonfarm Employment Change	125K	158K
	13:30	USD	Nonfarm Productivity (QoQ)	2.7%	1.9%
	13:30	USD	Unit Labor Costs (QoQ)	-0.9%	-0.1%
	15:00	USD	ISM Non-Manufacturing Index	53.5	54.2
Dec. 06	08:15	CHF	CPI (MoM)		0.1%
	09:30	GBP	Trade Balance	-8.8B	-8.4B
	10:00	EUR	GDP (QoQ)	-0.1%	-0.1%
	11:00	EUR	German Factory Orders (MoM)	0.9%	-3.3%
	12:00	GBP	Interest Rate Decision	0.50%	0.50%
	12:00	GBP	BOE QE Total	375B	375B
	12:45	EUR	Interest Rate Decision	0.75%	0.75%
Dec. 07	09:30	GBP	Industrial Production (MoM)	0.7%	-1.7%
	09:30	GBP	Manufacturing Production (MoM)	-0.2%	0.1%
	09:30	GBP	Industrial Production (YoY)	-0.6%	-2.6%
	11:00	EUR	German Industrial Production (MoM)	-0.5%	-1.8%