GOLD Weekly Analysis (week of 20-24/07)

United States Home Sales is projected to outperform last figure with 700K, while it previously stood at 676K, data will be released today at 2:00 PM.

Jul. 24, 2020

After 8 years hiatus, Gold is back at 1904.6 levels

(19:01) GMT

After starting the day at 1890.0 Gold went up to 1904.6 only to drop back to starting point range and now trading at 1899.0.

Gold green move comes while some more encouraging signs are out as Data for United States Natural Gas Storage was released Thursday 2:30 PM is better than expected with 37B, but worse than previous figure of 45B. United States Continuing Jobless Claims fall short of the 17,067K projections, with 16,197K and continued its downward trajectory from previous figure of 17,304K. Data for United States Jobless Claims 4-Week Avg. was released Thursday 12:30 PM suggests a downwards trend with 1,360.25K, while previous data was 1,376.75K.

Despite this, other data released earlier might suggest a different path as New data for United States Money Supply was released Thursday 12:30 PM comes out at 1,416K, beating projections of 1,300K and showing improvement over the preceding figure of 1,307K.

With no clear-cut projections the market is looking forward for United States CFTC set for today at 7:30 PM.

Jul. 23, 2020

New 8 years high for Gold at 1897.7

(22:01) GMT

Gold remains in the 1884.5 range after starting the session at 1890.0 and dropping 5.5 dollars.

This downslide might be related to financial indicators data published earlier as United States Home Sales released earlier shows an improvement to 4.72M from the preceding data of 3.91M, but falls short of the projected 4.78M. New data for United States Money Supply was released today at 12:30 PM comes out at 1,416K, beating projections of 1,300K and showing improvement over the preceding figure of 1,307K.

Nonetheless, encouraging indicators for Gold published earlier when Down from preceding data of 1.748M, United States Seevol Cushing Storage Report is released with a new figure of 0.769M. Data for United States Natural Gas Storage was released today at 2:30 PM is better than expected with 37B, but worse than previous figure of 45B.

Looking ahead, this trend may be prolonged as United States Home Sales is projected to outperform last figure with 700K, while it previously stood at 676K, data will be released tomorrow at 2:00 PM.

Jul. 22, 2020

Gold goes back up to Sep, 09 11 levels, reaching 1871.8

(22:01) GMT

Gold moves from 1865.1 to 1870.8, a 5.7 dollars change.

Positive Gold indicators are expected going forward as Tomorrow at 12:30 PM data for Continuing Jobless Claims will be released, with an expected decline to 17,067K from the preceding figure of 17,338K.

Traders might want to keep an eye for a setback as United States Natural Gas Storage is projected to outperform last figure with 47B while it previously stood at 45B, data will be released tomorrow at 2:30 PM.

With no clear-cut projections the market is looking forward for United States Money Supply figure is projected at 1,300K while it previously stood at 1,300K, data will be released tomorrow at 12:30 PM. United States Jobless Claims 4-Week Avg. set for tomorrow at 12:30 PM.


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Jul. 21, 2020

Gold hits 1844.9, highest rate in 8 years

(21:01) GMT

Gold recovered back to 1842.6 after dipping down to 1817.2 in a session that started at 1817.4.

Uptick comes while some more positive signs for Gold are out as Data for United States Redbook was released today at 12:55 PM suggests a downwards trend with -7.5%, while previous data was -5.5%. Data for United States 3-Month Bill Auction was released Monday 3:30 PM suggests a downwards trend with 0.120%, while previous data was 0.145%. Down from preceding data of 0.145%, United States 6-Month Bill Auction is released with a new figure of 0.130%.

Despite this, other data released earlier might suggest a different path as United States Chicago Fed National Activity (Jun) released today at 12:30 PM with a figure of 4.11, this is better from previous number of 3.50.

Traders might want to keep an eye for a setback as United States Home Sales is projected to outperform last figure with 4.80M, while it previously stood at 3.91M, data will be released tomorrow at 2:00 PM.

Jul. 20, 2020

Gold hovers around 1819.0

(22:01) GMT

Gold moves from 1817.4 to 1819.0, a 1.6 dollars change.

This limbo state for Gold is reflected by market data published as Down from preceding data of 0.145%, United States 3-Month Bill Auction is released with a new figure of 0.120%. Data for United States 6-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.130%, while previous data was 0.145%.

Data to be released later might clear up some of the fog for Gold as United States Crude Oil Inventories set for tomorrow at 8:30 PM. United States Redbook set for tomorrow at 12:55 PM. United States Chicago Fed National Activity (Jun) set for tomorrow at 12:30 PM.

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