GOLD Weekly Analysis (week of 13-17/07)

United States Building Permits is projected to outperform last figure with 1.290M while it previously stood at 1.216M, data will be released today at 12:30 PM.

Jul. 17, 2020

Gold is trading around 1812.6 after starting the day at 1800.3 (up 0.68%)

(20:01) GMT

After starting the day at 1800.3 Gold went up to 1813.9 only to drop back to starting point range and now trading at 1812.6.

Gold green move comes while some more encouraging signs are out as While down from preceding data of 18.2%, United States Retail Sales is better than expected at 7.5% according to new data released Thursday 12:30 PM. Data for United States Money Supply was released Thursday 12:30 PM is better than expected with 1,300K, but worse than previous figure of 1,310K. United States Michigan Consumer Expectations (Jul) fall short of the 73.5 projections, with 66.2 and continued its downward trajectory from previous figure of 72.3.

Despite this, other data released earlier might suggest a different path as United States Building Permits released earlier shows an improvement to 1.241M from the preceding data of 1.216M, but falls short of the projected 1.290M.

Jul. 16, 2020

After starting the day at 1800.3, Gold drifts to 1796.7 (down 3.6 dollars)

(22:01) GMT

Gold moves from 1800.3 to 1796.7, a 3.6 dollars change.

Jul. 15, 2020

Gold hovers around 1813.9

(20:01) GMT

Gold recovered back to 1813.9 after dipping down to 1804.0 in a session that started at 1813.4.

This limbo state for Gold is reflected by market data published as New data for United States Crude Oil Inventories was released Tuesday 8:30 PM comes out at -8.322M, beating projections of -2.100M and showing improvement over the preceding figure of 2.000M. United States Consumer Price Index released Tuesday 12:30 PM with a figure of 0.6%, this is better from previous number of 0.1%. United States Redbook released Tuesday 12:55 PM with a figure of -5.5%, this is better from previous number of -6.9%. United States NFIB Small Business Optimism (Jun) released Tuesday 10:00 AM with a figure of 100.6, this is better from previous number of 94.4.

Data to be released later might clear up some of the fog for Gold as Tomorrow at 12:30 PM data for Retail Sales will be released, with an expected decline to 5.0% from the preceding figure of 17.7%.


Compare The Top Forex Trading Brokers In Your Location


Jul. 14, 2020

Gold hovers around 1812.6

(21:01) GMT

Gold slides down from 1814.1 to 1812.6, taking a 1.5 dollars loss (-0.08%).

This limbo state for Gold is reflected by market data published as New data for United States Crude Oil Inventories was released today at 8:30 PM comes out at -8.322M, beating projections of -2.100M and showing improvement over the preceding figure of 2.000M. United States Budget Balance fall short of the -863.0B projections, with -864.0B and continued its downward trajectory from previous figure of -399.0B. United States Consumer Price Index beats expectations of 0.6% with new data release of 0.6%. United States Redbook released today at 12:55 PM with a figure of -5.5%, this is better from previous number of -6.9%.

Data to be released later might clear up some of the fog for Gold as United States Federal Open Market Committee scheduled for tomorrow at 4:00 PM.

Jul. 13, 2020

Gold is trading around 1804.9 after starting the day at 1814.1 (down -0.51%)

(22:01) GMT

Gold remains in the 1804.9 range after starting the session at 1814.1 and dropping 9.2 dollars.

Nonetheless, encouraging indicators for Gold published earlier when United States Budget Balance fall short of the -863.0B projections, with -864.0B and continued its downward trajectory from previous figure of -399.0B. Data for United States 3-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.145%, while previous data was 0.150%. Down from preceding data of 0.165%, United States 6-Month Bill Auction is released with a new figure of 0.145%.

Looking ahead, this trend may be prolonged as United States Consumer Price Index is projected to outperform last figure with 0.5%, while it previously stood at -0.1%, data will be released tomorrow at 12:30 PM.

Market will keep its eye on United States Federal Open Market Committee scheduled for tomorrow at 6:30 PM.

Advertiser Disclosure
Top8forexbrokers.com is an independent professional comparison site that provides users with free and valuable information on leading Forex brokers. Top8forexbrokers.com is supported by referral fees from listed companies. We do not provide a listing of each and every company in the market. We do not guarantee 100% accuracy of the information. The information which appears on this site is subject to change at any time. We aim to help users make an informed choice that best suits their particular needs.