Precious Metals Fundamental Analysis – August 17, 2015 – Forecast – Gold, Silver & Platinum

Analysis and Recommendations:

Gold dipped $2.50 in Asian and then traded flat for the balance of the session at 1113.10 while Silver remained steady at 15.375. Platinum was the biggest loser falling .35% to trade at 989.50 down by $3.45. Gold steadied away from a three-week high on Friday as China calmed jittery global markets, with upbeat U.S. retail sales refreshing expectations for a near-term increase in U.S. interest rates.

But bullion was still set to end a seven-week losing streak after China’s yuan devaluation earlier this week pushed investors out of risky assets and into those deemed to be so-called safe havens.

Volatile markets were soothed as the yuan held steady after China’s central bank said there was no reason for the currency to fall further given the country’s strong economic fundamentals.

The precious metal has gained nearly 2 percent for the week so far, after a seven-week slide that was its longest retreat since 1999.

The World Gold Council is optimistic that there will be an increase in demand for physical gold in the second half (H2) of this year, when it expects a seasonal demand increase in India and gold’s lower price to feed through into stronger consumer demand.

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:

 

Upcoming Economic Events that you should be monitoring:

Monday, August 17, 2015

Government Bond Auctions

Date Time Country

Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz

Aug 19 11:03 Sweden Holds bond auction

Aug 20 10:30 Spain Auctions Bonos/Obligaciones

Aug 20 11:30 UK Auctions 4.25% 2036 Gilt

Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug