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Precious Metals Weekly Analysis Forecast, May 18-22, 2015 – Forecast – Gold, Silver & Platinum

Weekly Analysis and Recommendations (GOLD Analysi Forecast):

Gold ended the week at 1223.60 after soaring this week as the US dollar weakened. Gold traded above $1225 while Silver added 32 points to close at 17.497. Platinum gained steadily outpacing gold this week at trade at 1168.70.

With the Fed indicating it will raise U.S. interest rates for the first time since 2006 as the world’s biggest economy recovers, bullion will post its third straight annual drop, said Arturo Passos, who produces the metals outlook at Unibanco, Latin America’s biggest bank by market value. Mr. Passos, part of a research group led by former central banker Ilan Goldfajn, was the most-accurate among 20 forecasters, data compiled by Bloomberg Rankings show.

An improving U.S. economy erodes the appeal of gold as a haven and sends investors to assets with better yield prospects such as bonds and equities. After rallying as much as 10 per cent in January, prices tumbled, turning negative for the year when a report last week showed employers added more jobs than forecast in February, the latest signal that economic expansion is gaining momentum.

Since dropping to this year’s low in mid-March, gold futures were up 4.5 per cent Tuesday to settle at $1,193.20 an ounce on the Comex in New York. The metal will increase to an average of $1,248 this year, and reach $1,338 in 2016, Bank of America analysts reiterated in a May 1 report. HSBC and Commerzbank AG are also bullish.

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information for gold in our weekly reports and we provide daily updates and outlooks.

Historical: From 2011 to present – Gold

Highest:              1911.60 on Sep 06, 2011

Average:             1333.45 over this period

Lowest:               1167.20 on November 4, 2014

Major Economic Events for the week that you should be monitoring for gold in forex trading

 

Cur. Event

Actual

Forecast

Previous

Monday, May 18, 2015

Tuesday, May 19, 2015

  AUD Monetary Meeting Minutes

 

  GBP CPI (YoY)

 

  EUR German ZEW Economic Sentiment

 

49.0

53.3

  EUR CPI (YoY)

 

0.0%

0.0%

  USD Building Permits (Apr)

 

1.065M

1.042M

  CAD BoC Gov Poloz Speaks

 

Wednesday, May 20, 2015

  GBP BoE MPC Meeting Minutes

 

  USD FOMC Meeting Minutes

 

Thursday, May 21, 2015

  CNY HSBC Manufacturing

 

49.4

48.9

  EUR German Manufacturing

 

52.3

52.1

  GBP Retail Sales

 

0.4%

-0.5%

  USD Existing Home Sales

 

5.24M

5.19M

  USD Philadelphia Fed Manufacturing

 

8.2

7.5

Friday, May 22, 2015

  EUR German GDP

 

0.3%

0.3%

  EUR German Manufacturing

 

52.1

  EUR German Ifo Business

 

108.3

108.6

  USD Core CPI

 

0.2%

0.2%

Government Bond Auctions

Date Time Country

May 18 09:30 Germany Eur 1.5bn 12M (May 2016) Bubills

May 18 10:00 Belgium Auctions OLOs

May 20 09:03 Sweden Holds bond auction

May 21 08:30 Spain Auctions Bonos

May 21 09:03 Sweden Holds bond exchange auction

May 21 09:10 France Auctions BTANs

May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt

May 21 10:10 France Auctions

May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May

May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year

May 21 17:00 US Auctions 10-year TIPs

May 22 09:03 Sweden Holds bond exchange auction

May 22 10:00 Norway Details bond auction on 27 May

Gold & Silver analysis forecast

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