Silver prices | Events Impacting The Gold And Silver Price In The Week Of ...

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Tuesday, 2 September 2014

Silver prices | Events Impacting The Gold And Silver Price In The Week Of ...

Events Impacting The Gold And Silver Price In The Week Of ...

Posted: 01 Sep 2014 01:55 AM PDT

The primary focus of our website is to report on the different aspects of the gold market: fundamentals, economic and monetary analysis, basic technical analysis. Our view on the real price setting in the gold and silver market differs from the mainstream view. Price changes happen to coincide with events or announcements; mainstream media are used to report a relationship between both. However, we believe that the real price setting for the time being is taking place in the COMEX futures market. Market expert Ted Butler does an outstanding job analyzing the weekly evolution in the COMEX market and how it affects price setting.

In this article, we summarize the key events of the running week that could have an impact on the price of gold and silver price because of trading in COMEX futures.

During the previous week, between August 25th and 30th, a number of economic data and central bank announcements resulted in selling pressure in gold and silver:

The US new home sales increased month-over-month from 406k to 422k. The expected result was 439k.
Germany's CPI was flat on 0.8%. Clearly, the main European economy is stuck, and, consequently, fragile.
The headline number initial job claims in the US was 299k, only 1k more than the previous data release. That is just 1k less than expected.
Eurozone's CPI came out at 0.9%, while it was 0.8% a month ago. It is far from the central banker's dream of 2% inflation.

For the week commencing September 1st, there is no announcement by the large central banks. The following economic data will be released:

August 31st: HSBC China Manufacturing PMI (expected 50.3, prior 50.3)
September 2nd: US ISM Manufacturing (expected 57, prior 57.1)
September 4th: ECB Main Refinancing Rate (expected 0.15%, prior 0.15%)
September 5th: Change in Nonfarm Payrolls (expected 220k, prior 209k)

Below is a more detailed calendar of key economic data in key markets. They are not necessarily driving gold and silver prices, but could cause price volatility:

economic calendar 1 September 2014 price

Sean Corrigan argues gold and silver prices look vulnerable ...

Posted: 01 Sep 2014 07:10 AM PDT

Posted on 01 September 2014 with no comments from readers

Top professional investor Sean Corrigan, chief investment strategist at Diapason Commodities Management, says gold and silver look 'vulnerable' with a tight trading range.

That seems a bit pessimistic as the Indian religious buying season is now upon us and geopolitical issues are looking very shaky…

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