The “Employment Situation Summary” by the USDA - Bureau of Labor Statistics at 15:30 will be crucial for the Gold

06.11.2015 / 13:17

Rating:

NFP - Bad data will support Gold on the demand side.

The October’s sentiment for global economic slowdown led by China and declining prospects in the United States shifted the expected tightening of monetary policy by the Fed in March 2016. Last bellicose proposition of Yellen corrected those expected by mid-December 2015, with consistent sales of gold.

Yellen said December is a possible option for action and described the main scenario, which according to her is low unemployment, continued growth and faith in returning inflation. Than Gold reacts near a one-month low below 1100.

Today the December Gold-Futures are rising (to 1107.30).

Positive report will lead to new sales of Gold, which continues to experience additional difficulties outflow of cash flows.

G.Hristov / Head of Fundamental Analyzes

Varchev Traders

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The “Employment Situation Summary” by the USDA - Bureau of Labor Statistics at 15:30 will be crucial for the Gold

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