Gold and Silver Prices – Daily Outlook September 3

The prices gold and silver rose again during last week, and I suspect bullion rates will continue to rally during this week. The recent speech of Bernanke at Jackson Hole raised the expectations that another QE program is right around the corner. I still think Bernanke’s speech didn’t offer any insight as to the future steps of the FOMC. His main points in the speech weren’t much different than any of his recent speeches or testimonies.  As I have pointed out in the precious metals weekly outlook the main events of the week will revolve around the U.S manufacturing PMI, Mario Draghi’s speech and U.S non-farm payroll report. Today is a Holiday (Labor Day) in the U.S so the markets there will be closed.  On today’s agenda: Australian Retail Sales, GB Manufacturing PMI, EU Flash Manufacturing PMI and ECB President Draghi Speaks. 

Today
02:30 – Australian Retail Sales
09:30 – GB Manufacturing PMI
14:00 – Spanish Flash Manufacturing PMI
Tentative – ECB President Draghi Speaks

Tomorrow
05:30 – Reserve Bank of Australia – Cash Rate Statement
15:00 – U.S. ISM Manufacturing PMI
2:30 – Australian GDP Second Quarter 2012


Source; http://www.tradingnrg.com/silver-gold-prices-forecast-monday-september-3rd-2012/