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

Gold bounced all over the place and looking heading towards new lows as its bounced back in the last few hours of trading on July 31^st. Silver added 24 points 14.72 and Platinum reversed the course to fall 984.15. Gold closed the month at 1094.90. The FOMC continues to guide that it anticipates interest rate lift-off to occur in 2015, although the timing and extent of that lift-off will depend upon economic developments. Between now and the September FOMC meeting, the markets will receive a revision to Q2 GDP, which came in at 2.3% q/q annualized, nearly half of the macroeconomic data releases that will form inputs into Q3 GDP, and two more jobs and inflation prints. Markets continue to see the Fed hiking interest rates starting in September with risks tilted to a later and lower path for rates over the next six months.

There are too many negative factors weighing on gold such as low inflation expectations, heightened appetite for other conventional assets and increasing speculations that the Federal Reserve will begin tightening monetary policy this year. A string of encouraging reports on the health of the US economy suggests that recovery in growth after a weak start to 2015. Apparently market players believe that EU leaders can find ways to manage the potential consequences of a Greek default. However, nobody can be sure how much damage it would do to the global equity markets.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Major Economic Events In August That You Should Be Monitoring: