Gold Trading Week Ahead – 30 March 2015

Will gold maintain it’s positive mometum?

Bullion.Directory precious metals analysis 30 March, 2015
By Harley Salt
Co-founder, Director of Sales Trading at Bullion Index

Easter later this week is expected to see trading volumes soften the closer we get towards the end of the week. Some financial markets will be closed or close early on Friday making it a short week, however spot gold, silver and currency pairs will be trading.

The key data due out this week is the US Non-Farm Payroll data due out on Good Friday (3^rd April) which could provide volatility given market volumes are expected to be thin and the range of markets open to be limited.

Given this I would not be surprised if a lot of traders go flat into the long weekend as they look to reduce their market exposure ahead of the release of the Non-Farms. Traders would not want to be caught on the wrong side of a trade.

Other important data and events of the week include; Euro inflation data out Tuesday, ADP Employment Report and Chicago PMI due Wednesday, US ISM Manufacturing PMI ,  Jobless Claims on Thursday and then all the key data due out with the Non-Farm Payrolls on Friday such as the Unemployment Rate, Average Weekly Hours and Average Hourly Earnings.

The Fed has mentioned its view on monetary policy is very much data driven so expect data out this week to be heavily scrutinized, especially Friday’s Non-Farms.

Also added into the mix this week is that up to 10 Fed officials are due to speak  at various times and functions, with Janet Yellen speaking on Thursday.

On Friday silver finished the week at US$16.97oz, up US$0.24oz on the week, while gold closed at US$1,198.40oz, up US$16.00 on the week, following a rise of US$23.40oz the previous week.

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