Auronum

A view of last week's price action which focused on a potential stop loss run on Sunday night's Asian trading and then led to a pounding for the precious metals following the US non-farm payroll jobs data. Our look towards next week suggests high volatility potential with three major central bank announcements and US inflation figures. It will be a week of interest for precious metal investors with silver holders hoping for some respite from the market

A very quiet week for markets as the US thanks giving takes trading volume out of the market. Gold manages to close above $2,000/oz this week as the US Dollar weakens. The Federal Reserve meeting minutes showed nothing new regarding monetary policy which has increased bets that the Fed will reduce rates by April 2024. Gold likely to benefit should the US Dollar index continue to fall

A series of weaker-than-expected economic data in the UK and US set the tone for bullion prices to rise this week. Treasury bond yields fell whilst the US Dollar index also traded lower on the week. Gold should continue to see an uptick in volatility with some key economic events scheduled for next week

A tough week for bullion as Fed chair sends out hawkish comments regarding tighter monetary policy. Palladium investors took a bath on forecasts of 300,000 oz surplus for 2024. Gold is holding up better than other precious metals over the week but is still seen lower against nearly every fiat currency this week