Gold Awaits Key Data This Week
Jul 30, 2013
Jim Wyckoff joins Kitco News’ Daniela Cambone to discuss gold and silver prices amidst the cornucopia of economic data due for release this week on this edition of “Technically Speaking.” The FOMC meeting announcement and U.S. nonfarm payroll data along with the BOE & ECB monetary policy announcement will be released this week and are expected to impact markets. According to Wyckoff, investors will also keep an eye out for Chinese manufacturing and U.S. GDP data also to be released this week. “Gold and silver markets are going to react to moves in the U.S. dollar index,” Wyckoff added. Although Wednesday’s FOMC decision will be closely followed, Wyckoff said Fed watchers are more interested in September’s FOMC meeting at which they expect the Central Bank will begin tapering of its bond-buying program. Watch now to hear his outlook for the metals this week as well as his market ratings for gold & silver. Kitco News, July 30, 2013. (show less)