Gold And Silver Prices – Outlook For September 12

Daily Outlook for September 12th

The prices of bullion didn’t do much yesterday while other major currencies pairs such as Euro/USD traded sharply up. I suspect the volatility will pick up during the day as forex and commodities traders are waiting for the German court ruling statement. Assuming there won’t be surprises, this decision is likely to pull up the Euro and consequently gold and silver prices will follow. Today’s publication of the Euro Area industrial production might have some effect on the Euro. If this report will show little progress it could pull down precious metals prices. Today the FOMC will commence its two day meetings, and tomorrow the FOMC will publish its decision – whether there will be another QE program. My guess is that the FOMC won’t announce just yet of QE3 even though the market already expects that. Even if there won’t be a decision on QE3 only another strong hint for a near future decision to implement QE3, bullion may also rise. I have examined the relation between the speculations between QE3 news and the price of gold.  

Here is a reminder of the top events and publications that are scheduled for today and tomorrow (all times GMT):

Today
10:00– Euro Area Industrial Production
Tentative – German High Court Ruling on EMS
18:00 – U.S 10 Year Bond Auction

Tomorrow
08:30 – Libor Rate of Swiss National Bank
08:30 – SNB Press Conference
9:00 – ECB Monthly Bulletin
13:30 – U.S. Jobless Claims Weekly Update
13:30 – U.S. Producer Price Index
Tentative – Italian 10 Year Bond Auction
Tentative – GB 10 Year Bond Auction
19:30 – FOMC Meeting (Statement)

Source; http://www.tradingnrg.com/gold-and-silver-prices-outlook-wednesday-september-12th-2012/

Gold and Silver Prices Outlook for September 10-14

In conclusion, I guess gold and silver will continue to trade up on a weekly scale but at a slower pace then they did during the previous week. The hike in bullion rate on Friday, mainly due to U.S non farm payroll report, might suggests the bullion market raises the chances of another QE program. The upcoming FOMC meeting could further pull up the bullion market. Even if the FOMC won’t announce of QE3 and will only allude to the fact, it could pull up gold and silver. I still think that the FOMC won’t announce just yet of another QE program. The positive news from Europe regarding the bond purchase program helped the recovery of the Euro and consequently also rallied commodities. The upcoming Euro council meeting and the German council ruling on the bailout fund could also affect the Euro. The upcoming interest rate decisions by Swiss National Bank could affect the forex markets in Europe if the bank will change the rate. The main U.S reports of the week will be the U.S CPI, PPI, trade balance and retail sales. If these reports will show growth, this could rally the commodities and stocks markets.  Finally, if the Euro, Aussie dollar and other exchange rates will continue to appreciate against the USD, this could also positively affect precious metals.

Source;  http://www.tradingnrg.com/gold-and-silver-prices-outlook-for-september-10-14/

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/