Precious Metals Fundamental Analysis – August 11, 2015 – Forecast – Gold, Silver & Platinum

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Updated: Aug 10, 2015, 09:41 UTC

Analysis and Recommendations: Gold added $2.80 to trade at 1096.90 as the dollar weakened. There isn’t much action in the metals markets as traders watch

Precious Metals Fundamental Analysis – August 11, 2015 – Forecast - Gold, Silver & Platinum

Analysis and Recommendations:

Gold added $2.80 to trade at 1096.90 as the dollar weakened. There isn’t much action in the metals markets as traders watch and listen for comments from the FOMC. Silver added 69 points to reach 14.890 while Platinum gained $7.55 to 969.75. Traders are thinking that the lackluster data from China will push the Fed decision back a few months. Gold halted its week-long decline in the US session as investors took profit on long USD bets after Non-farm Payrolls data. The solid NFP and Average Hourly Earnings further affirmed projections for a September rate hike. The upside of gold remains capped however, as zero-yield gold will likely lose out to yielding-assets as interest rates ‘normalize’, or returning to higher levels before a cycle of quantitative easing.

Gold held steady in morning Asia trade at the smallest drop among other major commodities, still weighed down by China data.

China trade data was released on Saturday with an all-around slump in trade surplus, imports and exports. This deepened threats that demand from China may slow down in the foreseeable future, and sent commodities prices down together with commodity-currencies. China is the world’s largest consumer in copper and gold, and presently the biggest crude oil importer.

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.

This weekend and today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
CNY	Exports (YoY) (Jul)	-8.3%	-1.0%	2.8%
CNY	Imports (YoY) (Jul)	-8.1%	-8.0%	-6.1%
CNY	Trade Balance (Jul)	43.03B	53.25B	46.54B
CNY	CPI (MoM) (Jul)	0.3%	0.3%	0.0%
CNY	CPI (YoY) (Jul)	1.6%	1.5%	1.4%
CNY	PPI (YoY) (Jul)	-5.4%	-5.0%	-4.8%
JPY	Adjusted Current Account	1.30T	1.41T	1.64T
JPY	Current Account n.s.a. (Jun)	0.559T	0.774T	1.881T
JPY	BoJ Monthly Report

Upcoming Economic Events that you should be monitoring:

Tuesday, August 11, 2015

Cur.	Event	Actual	Forecast	Previous
AUD	NAB Business Confidence (Jul)			10
EUR	German ZEW Current Conditions		64.4	63.9
EUR	German ZEW Economic Sentiment		32.0	29.7
CAD	Housing Starts (Jul)		195.0K	202.8K
USD	Nonfarm Productivity (QoQ) (Q2)		1.6%	-3.1%
USD	Unit Labor Costs (QoQ) (Q2)		0.2%	6.7%
USD	API Weekly Crude Oil Stock			-2.400M