Gold Fundamental Analysis October 3, 2014 Forecast

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Updated: Aug 24, 2015, 22:00 UTC

Analysis and Recommendations: Gold is flat today moving between small gains and losses after the Asian session. In the morning gold climbed but eventually

Gold Fundamental Analysis October 3, 2014 Forecast

Analysis and Recommendations:

Gold is flat today moving between small gains and losses after the Asian session. In the morning gold climbed but eventually gave up gains to trade at 1216.80. The yellow metal showed small gains on Thursday, buoyed along with other safe-haven assets, as weak global manufacturing data and the first diagnosis of Ebola in the United States unnerved equities.

Gold, often seen as an alternative investment during times of uncertainty, had edged up 0.. The metal gained 0.4 percent on Wednesday after earlier falling towards a nine-month low. Asian stocks dipped following Wall Street’s losses, sending investors scurrying to the safety of U.S. bonds, the Japanese yen and gold. U.S. stocks dropped more than 1 percent on Wednesday as the Ebola health scare pressured shares of airlines and transportation companies.

Investors were eyeing unrest in Hong Kong, where tens of thousands of mostly young people have continued protests for nearly a week, demanding China introduce full democracy so the city can freely choose its own leader.

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.

Today’s economic releases actual vs. forecast:

Cur.	Event	Actual	Forecast	Previous
AUD	Building Approvals	3.0%	1.0%	2.1%
AUD	Trade Balance	-0.787B	-0.700B	-1.075B
EUR	Spanish Unemployment	19.7K	31.3K	8.1K
GBP	Construction PMI (Sep)	64.2	63.5	64.0
EUR	Interest Rate Decision		0.05%	0.05%
USD	Initial Jobless Claims		297K	293K
*EUR*	*ECB Press Conference*
USD	Factory Orders (MoM)		-9.3%	10.5%

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
GBP	Services PMI (Sep)		59.1	60.5
USD	Nonfarm Payrolls (Sep)		215K	142K
USD	Unemployment Rate		6.1%	6.1%
USD	ISM Non-Mfg. PMI		58.5	59.6