GOLD Weekly Analysis (week of 01-05/06)

Temp subtitle, Even though falling short of the projected -9,000K, United States Employment Change released earlier shows an improvement to -2,760K from the preceding data of -19,557K.

Jun. 4, 2020

Gold is trading around 1721.1 after starting the session at 1704.8(up 0.96%)

(13:00)

Gold rallied 16.3 dollars (0.96%) deep into the session closing at 1721.1

Earlier - Even though falling short of the projected -9,000K, United States Employment Change released earlier shows an improvement to -2,760K from the preceding data of -19,557K. Data for United States Money Supply was released today at 12:30 PM is better than expected with 1,877K, but worse than previous figure of 2,126K. While down from preceding data of 1.2%, United States Nonfarm Productivity (QoQ) (Q1) is better than expected at -0.9% according to new data released today at 12:30 PM While down from preceding data of -11.0%, United States Factory Orders is better than expected at -13.0% according to new data released Wednesday 2:00 PM New data for United States Unit Labor Costs (QoQ) (Q1) was released today at 12:30 PM comes out at 5.1%, beating projections of 5.0% and showing improvement over the preceding figure of 0.9%. New data for United States Purchasing Managers Index was released Wednesday 1:45 PM comes out at 37.5, beating projections of 36.9 and showing improvement over the preceding figure of 26.7. United States Trade Balance fall short of the -49.00B projections, with -49.40B and continued its downward trajectory from previous figure of -42.30B. Data for United States Exports was released today at 12:30 PM suggests a downwards trend with 151.28B, while previous data was 190.18B Data for United States Imports was released today at 12:30 PM suggests a downwards trend with 200.69B, while previous data was 232.20B United States Seevol Cushing Storage Report released Wednesday 1:30 PM with a figure of -1.765M, this is better from previous number of -4.261M

Market looking ahead for -

Projections for United States Unemployment Rate are set for a continuation of decline with 19.8% while previous data was 14.7%, data will be released tomorrow at 12:30 PM. United States Nonfarm Payrolls is projected to out perform last figure with -8,000K while it previously stood at -20,537K, data will be released tomorrow at 12:30 PM. United States Average Hourly Earnings seems to be pointing downwards with an expected 1.0% while preceding figure was 4.7%, new data will be released tomorrow at 12:30 PM. United States Industrial Production is scheduled for tomorrow at 5:00 PM. United States Participation Rate is scheduled for tomorrow at 12:30 PM. United States Consumer Credit seems to be pointing downwards with an expected -20.00B while preceding figure was -12.04B, new data will be released tomorrow at 7:00 PM. United States Natural Gas Storage is projected to out perform last figure with 110B while it previously stood at 109B, data will be released today at 2:30 PM. United States Average Weekly Hours (May) is projected to out perform last figure with 34.3 while it previously stood at 34.2, data will be released tomorrow at 12:30 PM. United States CFTC is scheduled for tomorrow at 7:30 PM. United States 4-Week Bill Auction is scheduled for today at 3:30 PM.

Jun. 3, 2020

Gold is trading around 1713.5 after starting the session at 1734.0 (down -1.18%)

(14:01)

Gold slides down from 1734.0 to 1713.5, taking a 20.5 dollars loss (-1.18%)

Earlier - Even though falling short of the projected -9,000K, United States Employment Change released earlier shows an improvement to -2,760K from the preceding data of -19,557K. New data for United States Purchasing Managers Index was released today at 1:45 PM comes out at 37.5, beating projections of 36.9 and showing improvement over the preceding figure of 26.7. United States Crude Oil Inventories released Tuesday 8:30 PM with a figure of -0.500M, this is better from previous number of 8.700M United States Seevol Cushing Storage Report released today at 1:30 PM with a figure of -1.765M, this is better from previous number of -4.261M United States Redbook released Tuesday 12:55 PM with a figure of -1.4%, this is better from previous number of -1.5% United States Total Vehicle Sales released Tuesday 11:00 PM with a figure of 12.20M, this is better from previous number of 8.60M Data for United States Money Supply was released Tuesday 1:45 PM suggests a downwards trend with 811.3, while previous data was 826.5 United States ISM NY Business Conditions (May) released Tuesday 1:45 PM with a figure of 19.5%, this is better from previous number of 4.3%

Market looking ahead for -

United States Money Supply seems to be pointing downwards with an expected 1,800K while preceding figure was 2,123K, new data will be released tomorrow at 12:30 PM. According to projections United States Trade Balance are set for a continuation of decline with -49.00B while previous data was -44.40B, data will be released tomorrow at 12:30 PM. Projections for United States Nonfarm Productivity (QoQ) (Q1) are set for a continuation of decline with -2.7% while previous data was -2.5%, data will be released tomorrow at 12:30 PM. Things might be looking up as United States Unit Labor Costs (QoQ) (Q1) is projected to out perform last figure with 5.0% while it previously stood at 4.8%, data will be released tomorrow at 12:30 PM. United States Exports is scheduled for tomorrow at 12:30 PM. United States Imports is scheduled for tomorrow at 12:30 PM. United States Natural Gas Storage looks to be getting worse with an expected 107B while preceding figure was 109B, new data will be released tomorrow at 2:30 PM. United States Challenger Job Cuts is scheduled for tomorrow at 11:30 AM. United States Crude Oil Inventories is scheduled for today at 2:30 PM. United States EIA Refinery Crude Runs (WoW) is scheduled for today at 2:30 PM.

Jun. 2, 2020

Gold is trading around 1750.6 after starting the session at 1750.3(up 0.02%)

(15:01)

With no major movement Gold closed at 1750.6 after ranging between 1757.0 and 1744.0

Earlier - Even though falling short of the projected 35.0, United States ISM Manufacturing Employment (May) released earlier shows an improvement to 32.1 from the preceding data of 27.5. Even though falling short of the projected 39.8, United States Purchasing Managers Index released earlier shows an improvement to 39.8 from the preceding data of 36.1. While down from preceding data of 0.9%, United States Construction Spending (MoM) (Apr) is better than expected at -2.9% according to new data released Monday 2:00 PM New data for United States ISM Manufacturing Prices (May) was released Monday 2:00 PM comes out at 40.8, beating projections of 37.0 and showing improvement over the preceding figure of 35.3. United States Redbook released today at 12:55 PM with a figure of -1.4%, this is better from previous number of -1.5% Data for United States Money Supply was released today at 1:45 PM suggests a downwards trend with 811.3, while previous data was 826.5 United States 3-Month Bill Auction released Monday 3:30 PM with a figure of 0.150%, this is better from previous number of 0.130% United States 6-Month Bill Auction released Monday 3:30 PM with a figure of 0.170%, this is better from previous number of 0.160% United States ISM NY Business Conditions (May) released today at 1:45 PM with a figure of 19.5%, this is better from previous number of 4.3%

Market looking ahead for -

United States Employment Change is projected to out perform last figure with -9,000K while it previously stood at -20,236K, data will be released tomorrow at 12:15 PM. United States Purchasing Managers Index is projected to out perform last figure with 36.9 while it previously stood at 26.7, data will be released tomorrow at 1:45 PM. According to projections United States Factory Orders are set for a continuation of decline with -14.0% while previous data was -10.4%, data will be released tomorrow at 2:00 PM. United States Seevol Cushing Storage Report is scheduled for tomorrow at 1:30 PM. United States ISM Non-Manufacturing Employment (May) is scheduled for tomorrow at 2:00 PM. Things might be looking up as United States ISM Non-Manufacturing Business Activity (May) is projected to out perform last figure with 34.0 while it previously stood at 26.0, data will be released tomorrow at 2:00 PM. United States Imports is scheduled for tomorrow at 2:30 PM. United States Total Vehicle Sales is scheduled for today at 11:00 PM. United States Crude Oil Inventories is scheduled for tomorrow at 2:30 PM. United States MBA 30-Year Mortgage Rate is scheduled for tomorrow at 11:00 AM.


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Jun. 1, 2020

Gold is trading around 1745.6 after starting the session at 1751.7 (down -0.35%)

(12:00)

With no major movement Gold closed at 1745.6 after ranging between 1761.0 and 1740.8

Market looking ahead for -

Things might be looking up as United States ISM Manufacturing Employment (May) is projected to out perform last figure with 35.0 while it previously stood at 27.5, data will be released today at 2:00 PM. United States Purchasing Managers Index is projected to out perform last figure with 39.8 while it previously stood at 36.1, data will be released today at 1:45 PM. United States Crude Oil is scheduled for tomorrow at 8:30 PM. Projections for United States Construction Spending (MoM) (Apr) are set for a continuation of decline with -6.0% while previous data was 0.9%, data will be released today at 2:00 PM. United States ISM Manufacturing Prices (May) is projected to out perform last figure with 37.0 while it previously stood at 35.3, data will be released today at 2:00 PM. United States Redbook is scheduled for tomorrow at 12:55 PM. United States Total Vehicle Sales is scheduled for tomorrow at 11:00 PM. United States Money Supply is scheduled for tomorrow at 1:45 PM. United States 3-Month Bill Auction is scheduled for today at 3:30 PM. United States 6-Month Bill Auction is scheduled for today at 3:30 PM.

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