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

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Updated: Nov 19, 2015, 11:46 GMT+00:00

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

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:

Cur.	Event	Actual	Forecast	Previous
NZD	PPI Input (QoQ) (Q3)	1.6%	0.1%	-0.3%
JPY	Adjusted Trade Balance	-0.20T	-0.38T	-0.31T
JPY	Exports (YoY) (Oct)	-2.1%	-2.1%	0.6%
JPY	Trade Balance (Oct)	112B	-292B	-115B
JPY	BoJ Press Conference
EUR	German Buba President Weidmann
GBP	BoE MPC Member Broadbent Speaks
GBP	Core Retail Sales (MoM) (Oct)	-0.9%	-0.5%	1.5%
GBP	Core Retail Sales (YoY) (Oct)	3.0%	3.9%	5.7%
GBP	Retail Sales (MoM) (Oct)	-0.6%	-0.5%	1.7%
GBP	Retail Sales (YoY) (Oct)	3.8%	4.2%	6.2%
GBP	CBI Industrial Trends Orders (Nov)		-10	-18
EUR	ECB Account of Monetary Policy

Upcoming Economic Events that you should be monitoring:

Friday, November 20, 2015

Cur.	Event	Actual	Forecast	Previous
JPY	BoJ Monthly Report
EUR	German PPI (MoM) (Oct)		-0.2%	-0.4%
EUR	ECB President Draghi Speaks
EUR	German Buba President Weidmann
USD	FOMC Member Bullard Speaks
USD	Baker Hughes U.S. Rig Count			574