Future outlook on the precious metal market from 24 – 28

Gold Morning

We had watched that, the precious metal recorded a rise at Friday session by an average of 1.63% to reach the level of 1298.60 USD/ Ounce. The rise of the precious metal was supported by the low price, which attracted Burgin hunter to enter the market after the prices fell to its lowest level since September 2010.

The precious metal traders will be waiting for the durable goods order, and the labor US data, to be sure that, the US economy is on the improvement track, but there are more events is going to take place in the market.

Monday, June 24

The IFO institute will publish a report, about the German business climate, which is a leading indicator about the economic health.

Tuesday, June 25

The UK is going to publish an industry data about mortgage approvals, a leading indicator of demand on the housing sector. At the euro zone, Italy will conduct an auction of government bonds for a period of 10 years.

The U.S. is going to publish official data on durable goods orders, a leading indicator of production, as well as reports on consumer confidence and new home sales, according to Nasdaq. This index is going to be monitored by the global investors

Wednesday, June 26

Germany will publish a report on consumer climate GFK, a leading indicator for the consumer spending.

The Bank of England will publish its report about the financial stability while the United Kingdom was to publish private sector data on retail sales.

Later in the day, the U.S. was to release revised data on growth in the first quarter, as well as government data on crude oil stockpiles.

Thursday, June 27, New Zealand is going to publish official data on the trade balance, the difference between the value of imports and exports, as well as data on business confidence.

In the euro zone, European Union leaders will hold the first day of the economic summit for two days. Germany will also publish official data on the change in the number of unemployed people.

UK is going to make an announcement about an official data on the current account and revised data on the economic growth by the first quarter.

Later in the day, U.S. is going to publish a government report on initial weekly jobless claims along with data on personal income and spending.

Friday, June 28

Japan is to publish a series of economic data, including reports on household spending, inflation, retail sales and preliminary data on industrial production.

Australia will publish government data on private sector credit.

In the euro zone, European Union leaders will hold the second day of the economic summit for two days in Brussels.

Germany will publish preliminary data on consumer price inflation, which accounts for a majority of overall inflation while France will publish data on consumer spending.

Switzerland is going to publish the barometer for economic, which is an important indicator for the precious metal expected trend in Switzerland.

Later the same day, Canada will publish its monthly report on the gross of domestic product, the broadest indicator of economic activity and a key measure of the health of the economy.

The United States will end the week, by a report on manufacturing activity in Chicago.

If the previous data come out with positive figures, it will add more stress on the gold price. Because investors are expected to head toward the Stock market. This is an issue which could lead the gold toward the level of $1200 USD/ Ounce directly.

In the case of negative data especially from USA, the investors will search for a safe alternative and it is going to be the yellow meta. In the case of negative data gold price could rebound to the level of $1400 USD/ Ounce.