CME Gold is trading around $1,651.7 per ounce, after closing the previous week at $1,651.7 per ounce (down 0%) .
Gold drifts up 0% to close at $1,651.7 per ounce today. (Trade CME Gold with FXTM now).
This move comes while some more positive signs for Gold are out as Crude Oil Inventories in United States fell short of market expectations (2.16 million) with a reading of 1.14 million, continuing the decline from the previous figure of 2.44 million.
On the flip side, United States Initial Jobless Claims beat the 218,000 projections, with 213,000.
At the same time, United States Interest Rate came out at 3.25, while a consensus of analysts was expecting 3.25. United States Existing Home Sales (Aug) released Wednesday with a figure of 4.8 million, while the previous figure was 4.82 million. United States Building Permits (Aug) released Tuesday with a figure of 1.52 million, while the previous figure was 1.69 million.
Outlook for rest of the week: Today's gains have given market bulls further impetus to expect strong macro data going forward, such as Thursday data for United States Initial Jobless Claims will be released, with an expected decline to 215,000 from the preceding figure of 213,000.
Also worthy of note, United States Core PCE Price Index (MoM) (Aug) scheduled to come out Friday. United States New Home Sales (Aug) is expected Tuesday.