During the last week, gold price recorded a decline due to the rise of the US dollar to its highest in five weeks infront of the yen and the Euro.
Gold price ended Friday trading sessions on a decline by 2.29% to reach the level of $1223.80 USD/ Ounce of gold, there is some factors will affect gold price during the next week.
Monday, July 8
Japan is going to publish official data on the current account and bank lending.
Switzerland will publish a government data about the unemployment rate.
In the euro zone, Germany will publish official data on industrial production, which is a leading indicator of economic health, as well as data on the trade balance.
Will a euro-zone finance ministers conducts talks in Brussels.
The President of the European Central Bank Mario Draghi will appear before the Committee of the Economic and Monetary Affairs of the European Parliament in Brussels.
Later Monday, Canada will publish government data on building permits, a leading indicator of future construction activity. The Bank of Canada will also publish the business outlook.
Tuesday, July 9
The New Zealand is to publish private sector data on business confidence, a leading indicator of economic health, while Australia will publish a report on business confidence.
China will publish official data p on consumer price inflation, which accounts for the majority of overall inflation.
Switzerland is to publish official data on retail sales, the government gauge of consumer spending, which accounts for the majority of overall economic activity.
The UK is to publish official data on industrial production, as well as data on the trade balance.
Will finance ministers from the European Union to hold talks in Brussels.
Wednesday, July 10
The Bank of Japan will publish the minutes of its monetary policy meeting, which provide insight into Khhl economic conditions from the point of view of the bank. As Japan is to publish official data on Tertiary Industry Activity.
Australia will publish a report on consumer confidence, a leading indicator of consumer spending.
In the euro zone, France and Italy will publish official data on industrial production.
Later Wednesday, the Fed will for a federal publish the minutes of its last meeting for policy development. At the same time, Federal Reserve Chairman Ben Bernanke is to speak.
Thursday, July 11
The New Zealand is to publish private sector data on manufacturing activity, an index of leading economic indicators.
Australia will publish official data on the change in the number of unemployed and the unemployment rate.
The Bank of Japan will announce its interest rate decision. Accompanied by a statement of monetary policy of the Bank, which contains important information about the economic outlook. The Bank of Japan will also hold a press conference after the announcement of the interest rate.
As Japan is to publish official data on core machinery orders, a leading indicator of production.
The European Central Bank will offer monthly bulletin, about the economic outlook for the bank.
Canada will publish official data on inflation in the prices of new homes, which is an important indicator of demand in the housing sector.
The U.S. is to publish weekly government report on initial jobless claims, an index of leading economic indicators, as well as official data on import prices.
Friday, July 12
Australia will publish official data on home loans, a leading indicator of demand in the housing sector.
The euro zone is to publish official data on industrial production.
The United States will surround week formal statements on inflation in producer prices and the preliminary data from the University of Michigan consumer confidence.
Gold price seems to be heading to rise due to the weakness of the global economy, but we had one issue could prevent the rise of gold price any positive data from USA, the issue which will lead to a rise in the US dollar and gold price decline immediately.