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Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed

Bank of Korea likely to keep key interest rate on hold at 0.50 pct in November

U.S. existing home sales rise above expectations in October

U.S. durable goods orders sustain robust growth

Canadian employment likely declined in November, jobless rate to have risen to 9 pct

German Ifo business climate index falls sharply in November, economic growth likely to shrink in Q3

Bank Indonesia keeps key interest rate on hold at 3.75 pct

Taiwanese money supply continues to see strong growth, CBC likely to keep rates on hold in December

FxWirePro: Daily Commodity Tracker - 21st March, 2022

United States building permits

Australian private new capital expenditure likely fell further in Q3 2020 - ANZ

U.S. existing home sales decline in August

U.K.’s flash PMI indices indicate decline in business activity in November, composite index falls to 47.4

Reserve Bank of India likely to stand pat in December

U.S. vehicle sales fall again in November

Australian economic growth recovers strongly in Q3 2020

U.S. Consumer Confidence falls in September

HSBC says Trump win bullish for gold

Tuesday, November 1, 2016 1:04 PM UTC

HSBC says that if Donald Trump wins the White House (we believe he will), on November 8th, it could be good news for gold. The analysts’ suspect that the yellow metal could rise to as high as $1575 by the end of the year, if America rejects Hillary.

We at FxWirePro, have already called for longs in the yellow metal at $1060 and $1090 per troy ounce and we have already forecasted the yellow metal to reach $1525 area. We have considered the weakness in the dollar and return of inflation to act as bullish agents to gold. Now, HSBC is forecasting gold price from the risk aversion point of view, which would dampen the dollar but we don’t think that would be the case. While the dollar is likely to decline in the very short term if Trump wins, mainly because of the uncertainties surrounding the path ahead but in the longer run, a Trump presidency would be bullish for the dollar.

 

 

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