Precious Metals Fundamental Analysis – August 5, 2015 – Forecast – Gold, Silver & Platinum

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Updated: Aug 4, 2015, 09:53 UTC

Analysis and Recommendations: Gold eased $2.50 recovering from its losses in the Asian session to trade at 1092.60. Silver remained on the bottom at

Precious Metals Fundamental Analysis – August 5, 2015 – Forecast - Gold, Silver & Platinum

Analysis and Recommendations:

Gold eased $2.50 recovering from its losses in the Asian session to trade at 1092.60. Silver remained on the bottom at 14.675 and platinum was down $6.35 at 978.65. Gold tumbled to a five-year low in July as Fed Chair Janet Yellen said the central bank is on track for raising rates, curbing the appeal of bullion as it doesn’t pay interest like assets such as equities. A government report Monday showed American households kept spending in June, capping a stronger quarter for the biggest part of the economy, as incomes rose. Investors are looking ahead to employment data this week to assess prospects for a September liftoff. While US data suggested the world’s largest economy may have lost some momentum in the past two months, economists believe the U.S. central bank was still set to lift rates this year. But the initial hike – the first in nine years – could be later than September when Fed policymakers meet next.

“The release of better-than-expected U.S. economic data continued to weigh on gold,” James Steel, an analyst at HSBC Securities (USA) Inc. in New York, said in a note. “The combination of weak commodities and bullion’s inability to convincingly break over the psychological $1,100-level helped explain the slight sell-off.”

Analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas as the US interest-rate outlook buoyed the dollar, eroding appeal of the precious metal as an alternative investment.

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:

Cur.	Event	Actual	Forecast	Previous
AUD	Retail Sales (MoM) (Jun)	0.7%	0.5%	0.4%
AUD	Trade Balance (Jun)	-2.933B	-3.100B	-2.677B
AUD	Interest Rate Decision (Aug)	2.00%	2.00%	2.00%
AUD	RBA Rate Statement
GBP	Nationwide HPI (YoY) (Jul)	3.5%	3.5%	3.3%
GBP	Nationwide HPI (MoM) (Jul)	0.4%	0.4%	-0.2%
EUR	Spanish Unemployment Change	-74.0K	-45.6K	-94.7K
GBP	Construction PMI (Jul)	57.1	58.4	58.1

Upcoming Economic Events that you should be monitoring:

Wednesday, August 5, 2015

Cur.	Event	Actual	Forecast	Previous
GBP	Services PMI (Jul)		58.0	58.5
USD	ADP Nonfarm Employment Change		215K	237K
USD	ISM Non-Manufacturing PMI (Jul)		56.2	56.0