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UBS: Can Gold's Rally Resume? Yes, $4700 in Play
Gold is consolidating near four thousand dollars an ounce after a brief correction but remains aligned with UBS’s forecast of forty-two hundred by year-end. According to UBS, falling real rates, a weaker dollar, and strong official demand could push prices toward their upside target of forty-seven hundred. The bank notes that two-thirds of central-bank buying goes unreported, reinforcing a structural bull market and framing today’s consolidation as a healthy pause before gold’s next advance.
Continues in the Premium post: UBS: Can Gold’s Rally Resume? Yes, $4700 in Play
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Data on Deck: Jobs- Data We Won’t Get
MONDAY, NOV.3 PMIs
TUESDAY, NOV.4 *U.S. trade deficit Sept.
WEDNESDAY, NOV.5 ADP employment
THURSDAY, NOV. 6 Fed speakers
FRIDAY, NOV.7 Unemployment*1
Charts and Final Market Check:
MONDAY, NOV.39:45 amS&P final U.S. manufacturing PMIOct.52.210:00 amISM manufacturingOct.49.1%10:00 am*Construction spendingSept.NA2:00 pmFed governor Lisa Cook speechTBAAuto salesOct.16.4 million
TUESDAY, NOV.48:30 am*U.S. trade deficitSept.NA10:00 am*Factory ordersSept.--NA10:00 am*Job openingsSept.--7.2 million
WEDNESDAY, NOV.58:15 amADP employmentOct.-32,0009:45 amS&P final U.S. services PMIOct.55.210:00 amISM servicesOct.50.0%
THURSDAY, NOV. 68:30 am*Initial jobless claimsNov. 1NA8:30 am*U.S. productivityQ33.3%^10:00 am*Wholesale inventoriesSept.--NA11:00 amNew York Fed President Williams speaks4:30 pmPhiladelphia Fed President Paulson speaks5:30 pmSt. Louis Fed President Musalem speaks
FRIDAY, NOV.78:30 am*U.S. employment reportOct.NA8:30 am*U.S. unemployment rateOct.NA8:30 am*U.S. hourly wagesOct.NA8:30 am*Hourly wages year over yearNA9:30 amDallas Fed President Lorie Logan speaks10:00 amConsumer sentiment (prelim)Nov.53.63:00 pmConsumer creditSept.$0.3 million
