Gold, Silver & Platinum Fundamental Analysis – November 26, 2015 – Forecast

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Updated: Nov 25, 2015, 12:20 GMT+00:00

Analysis and Recommendations: Gold started giving back safe haven gains reversing the morning decline to reach 1072.50. Silver declined 79 points to trade

Gold, Silver & Platinum Fundamental Analysis – November 26, 2015 – Forecast

Analysis and Recommendations:

Gold started giving back safe haven gains reversing the morning decline to reach 1072.50. Silver declined 79 points to trade at 14.080 while Platinum eased 55 points to 841.15. In the global market, reuters.com quoted HSBC analyst James Steel as saying that gold prices have risen as investors have sought protection from volatile financial markets in the wake of global stresses.

Despite the gains, gold wasn’t too far from a near-six-year low of1,064.95 that it hit last week on increasing expectation that the Federal Reserve would hike American rates next month for the first time in nearly a decade. Gold tended to benefit from ultra-low American rates, which lowered the cost of holding non-yielding bullion.

Gold rose as much as 0.5% to $1 080.95 an ounce, according to Bloomberg generic pricing. The metal — which is rebounding from $1 064.55 on November 18, the lowest since February 2010 — gained 0.6% on Tuesday.

Russian President Vladimir Putin said the shooting down of the plane by Turkish forces near their border with northeastern Syria would have “serious consequences.” Gold touched a five-year low last week as traders increased wagers US policymakers will raise borrowing costs next month. The chances of a December liftoff are now at 74% compared with 50% at the end of October, Fed-fund futures data show.

Holdings in gold-backed exchange traded products fell for a fifth day to 1 494.28 metric tons on Tuesday, data compiled by Bloomberg show. Assets are at the lowest since February 2009.

Gold edged down on Wednesday on a rebounding dollar and expectations of a U.S. rate hike next month, but the downside was capped by retail demand emerging on tension between Turkey and Russia.

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
USD	API Weekly Crude Oil Stock	2.600M	-0.200M	-0.482M
JPY	Monetary Policy Meeting Minutes
AUD	Construction Work Done (QoQ) (Q3)	-3.6%	-2.1%	2.1%
GBP	BBA Mortgage Approvals	45.4	45.5K	44.5K
AUD	RBA Assist Gov. Debelle Speaks

Upcoming Economic Events that you should be monitoring:

Wednesday, November 26, 2015

Cur.	Event	Actual	Forecast	Previous
	United States – Thanksgiving Day
NZD	Trade Balance (MoM) (Oct)		-937M	-1,222M
NZD	Trade Balance (YoY) (Oct)		-3,370M	-3,200M
AUD	Private New Capital Expenditure		-3.0%	-4.0%
EUR	GfK German Consumer Climate (Dec)		9.2	9.4