Expect A Quiet Week In Gold And Silver Prices

In this article, we summarize which events in the week ahead could impact the gold price and silver price. At the bottom of the article we explain that these events are generaly no fundamental drivers, but mostly the result of trading in COMEX futures.

Precious metals are basically directionless for more than two months now, as explained last week. Last week, gold remained within a trading range between $1170 and $1200 while silver did not exceed its $15.80 to $16.80 trading range. That is almost exactly the same trading range as the week before.

For the week commencing May 11th, we expect a very quiet week. There are only a handful number of economic data without any central bank announcement, as seen on the next table. The data that are scheduled to be released are typically not moving precious metals prices.

gold_price_drivers_week_11_may_2015

 

Note: The primary focus of our website is to report on the different aspects of the gold market: fundamentals, economic and monetary analysis, basic technical analysis. Our view on the real price setting in the gold and silver market differs from the mainstream view. Price changes “happen to coincide” with events, and mainstream media got used to report some sort of relationship between the two. However, we believe that the real price setting is taking place in the COMEX futures market. Market expert Ted Butler does an outstanding job analyzing the weekly evolution in the COMEX market and how it affects price setting

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