Precious Metals Daily Market Watch Sept 04, 2015 - Emkay Commotrade

Published: Sep 6, 2015 12:14
Gold futures fell to the lowest levels of the session on Thursday, as the euro sank against the dollar.

By  Paul Ploumis 04 Sep 

Macro Headlines

• ECB will consider expanding monetary stimulus programme by keeping interest rate decision unchanged at 0.05%, cut inflation forecast, euro fall

• US weekly jobless claims rise 12K to 282K last week while trade deficit reduced 7.4% in July to $41.9 billion

• ISM reports, US manufactures grow at slowest pace in two years at 59 from 60.3 in July

• US monthly jobs report due tonight may shed light on timing of first rate hike from Federal Reserve

Precious Metals: Gold futures fell to the lowest levels of the session on Thursday, as the euro sank against the dollar after European Central Bank President Mario Draghi said the central bank will use all instruments available if needed to stimulate the economy and boost inflation. US jobless data remained supportive for bullions last night but ECB Draghi simulative steps supported. Gold trading cautious ahead of US monthly jobs report and China market closure showing weakness. Gold on the New York Mercantile Exchange dropped $11.10, or 0.98%, to trade at $1,122.50 a troy ounce. We expect US NFP data just like last 12 years will post negative number on which Fed time span of rate hikes will be delayed. Buying in gold on lower side with stop loss of 26300 can be done today ahead of U Unemployment report.

Courtesy : Emkay Commotrade


Emkay Commotrade Ltd.

7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028. 

India Tel: +91 22 66121212 Fax: +91 22 66121299


Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Western Mining Reports Strong Lead-Zinc Production in 2026 Semi-Annual Results
13 hours ago
Western Mining Reports Strong Lead-Zinc Production in 2026 Semi-Annual Results
Read More
Western Mining Reports Strong Lead-Zinc Production in 2026 Semi-Annual Results
Western Mining Reports Strong Lead-Zinc Production in 2026 Semi-Annual Results
Western Mining Co., Ltd. 2026 Semi-Annual Report: Lead-Zinc Segment The Company is a major producer of lead and zinc concentrates in China, with substantial lead and zinc metal resource reserves. Its core mines include the Xitieshan Lead-Zinc Mine, the Huogeqi Copper Polymetallic Mine, the Gacun Silver Polymetallic Mine, and the Huidong Daliang Lead-Zinc Mine. During the reporting period, the Company produced a total of 29,456 mt of ore-derived lead and 63,906 mt of ore-derived zinc.
13 hours ago
Data: SHFE, DCE market movement (Jul 29)
15 hours ago
Data: SHFE, DCE market movement (Jul 29)
Read More
Data: SHFE, DCE market movement (Jul 29)
Data: SHFE, DCE market movement (Jul 29)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 29 Jul , 2026
15 hours ago
Guangdong Zinc: Downstream just-in-time procurement, spot premiums maintained a fluctuating trend [SMM Midday Review]
17 hours ago
Guangdong Zinc: Downstream just-in-time procurement, spot premiums maintained a fluctuating trend [SMM Midday Review]
Read More
Guangdong Zinc: Downstream just-in-time procurement, spot premiums maintained a fluctuating trend [SMM Midday Review]
Guangdong Zinc: Downstream just-in-time procurement, spot premiums maintained a fluctuating trend [SMM Midday Review]
[Guangdong: Downstream Just-in-Time Procurement, Spot Premiums Maintain Fluctuating Trend] Guangdong 0# zinc was mainly traded at 24,645-24,680 yuan/mt, with mainstream brands quoting discounts of 100-40 yuan/mt against the 2609 contract and a discount of 60 yuan/mt against Shanghai spot zinc; the Shanghai-Guangdong price spread widened...
17 hours ago