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Bullion Insights for the week of 27 June 2017

PRECIOUS METALS MARKET REVIEW.

Weekly Spot Price (19 June – 23 June 2017)
  Open High Low Close
Gold 1253.62 1258.69 1240.65 1255.47
Silver 16.63 16.75 16.31 16.59
Platinum 926.15 933.83 915.9 926.43

 

· Gold Prices Weekly Forecast: Narrow Ranges Likely, Selling Interest On Rallies. Several US economic data release this week may suggest a decisive impact on sentiments surrounding the US economy, the Federal Reserve policy and Gold Prices.
· Gold Plunges After 1.8 Million Ounces Were Traded in One Minute.  Bullion sank at 9 a.m. in London on Monday after a huge spike in volume in New York futures that traders said may have been the result of a “fat finger,” or erroneous order. Trading jumped to 1.8 million ounces of gold in just a minute, an amount that’s bigger than the gold reserves of Finland.
· Gold Miners (GDX) Setting Up For A Big Move Soon. Gold and especially gold mining stocks rebounded on Wednesday and trended higher into the weekend. This is giving some investors renewed hopes that the bull market that began roughly 18 months ago is about to reassert itself.
· Economic figures to monitor this week:
  Day & Date Economic Events  
  Tuesday, 27 June 2017 BoE Financial Stability Report (UK)

CB Consumer Confidence (Jun)

  
  Wednesday, 28 June 2017 Fed Chair Yellen Speaks  (US)

Pending Home Sales (MoM) (May) (US)

Crude Oil Inventories (US)
Fed Interest Rate Decision (US)

  
  Thursday, 29 June 2017 GDP (QoQ) (Q1) (US)  
  Friday, 30 June 2017 Manufacturing PMI (Jun) (CHN)

GDP (QoQ) (Q1) (UK)
CPI (YoY) (Jun)  (EUR)

 

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