Precious Metals Fundamental Analysis – November 20, 2015 – Forecast – Gold, Silver & Platinum

Analysis and Recommendations:

Gold gave back some of its early morning gains but remains elevated by $5 at 1073.40. There has been no supportive data for the rally in gold except for a bit of weakness in the US dollar. Silver took cures from gold and gained 69 points to 14.15 while Platinum saw sizeable gains adding $11.50 to trade at 859.45. Gold prices rose after minutes from the Federal Reserve policy-setting meeting showed officials are closer to raising interest rates for the first time in nearly a decade but expect the pace of increases to be gradual.

Most Fed officials expect that the U.S. economy will meet the conditions for raising interest rates by their mid-December meeting, the minutes of their October meeting showed. But new language showed that after the Fed does move rates higher, the subsequent path of increases is likely to be exceptionally shallow and gradual.

The temperate approach to tightening monetary policy soothed concerns among some gold traders who worried the U.S. central bank would take bolder action, said Ira Epstein, a broker with Linn & Associates in Chicago.

Commodity markets should brace for another assault on prices if, as is widely expected, the US Federal Reserve tightens policy in December and the dollar strengthens further. The dollar fell back from seven month peaks against a basket of currencies early in Asia on Thursday.

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:

Friday, November 20, 2015

Government Bond Auctions

Date Time Country

Nov 19 10:30 Spain 0.25% Apr 2018 Bono, 1.15% Jul 2020 Bono, 5.4% Jan 2023

Nov 19 10:50 France Eur 7-8bn; 4.25% Oct 2018 OAT, 0.25% Nov 2020 OAT, 2.25%

Nov 19 11:50 France Eur 1-1.5bn; 0.25% Jul 2024, 1.85% Jul 2027, 3.15% Jul 2032

Nov 19 N/A US Holds 10-year TIPS auction

Nov 20 16:30 Italy Announces details of CTZ/BTPei on 25 Nov

Nov 23 12:00 Belgium Auctions OLOs

Nov 23 N/A US Holds 2-year note auction

Nov 24 17:30 Italy Announces details of BTPs/CCTeu on 27 Nov

Nov 24 N/A Holland Eur 1.0-2.0bn 0.25% Jul 2025 DSL

Nov 24 N/A US Holds 5-year note auction

Nov 25 11:03 Sweden Holds bond auction

Nov 25 11:10 Italy Auctions CTZ/BTPei

Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund

Nov 25 N/A US Holds 2-year FRN auction

Nov 25 N/A US Holds 7-year note auction

Nov 26 11:03 Sweden Holds bond auction

Nov 27 11:03 Sweden Holds bond auction

Nov 27 11:10 Italy Auctions BTPs/CCTeus