Economic Indicators

15：00 UK Nationwide HPI (MoM) (Nov)‧Fcst -0.4%‧Prev +0.9%

15：00 UK Nationwide HPI (YoY) (Nov)‧Fcst -2.3%‧Prev -3.3%

17：00 Eurzome Manufacturing PMI (Nov)‧Fcst 43.8‧Prev 43.8

17：30 UK Manufacturing PMI (Nov)‧Fcst 46.7‧Prev 46.7

21：30 CA Employment Change (Nov)‧Fcst+14.0K‧Prev+17.5K

21：30 CA Unemployment Rate (Nov)‧Fcst 5.8%‧Prev 5.7%

22：45 US 11月Manufacturing PMI (Nov)‧Prev 49.4

23：00 US 10月Construction Spending (MoM) (Oct)‧Fcst +0.4%‧Prev +0.4%

23：00 US ISM Manufacturing PMI (Nov)‧Fcst 47.6‧Prev 46.7

23：00 US ISM Manufacturing Prices (Nov)‧Prev 45.1

23：00 US ISM Manufacturing Employment (Nov)‧Prev 46.8

23：00 US ISM Manufacturing New Orders Index (Nov)‧Prev 45.5

The highlight of The Week

Fri:
02：45 US PMI (Nov)

XAU - Gold prices continue to hold on to highs, recording gains for the second consecutive month

Gold prices fell on Thursday, but were still on course for a second monthly gain, as expectations that the U.S. Federal Reserve may soon cut interest rates bolstered the appeal of the non-yielding bullion. Gold prices hit a seven-month high of $2,051.90 on Wednesday. In November, gold prices have risen by about 2.7%. Traders now see a 50% chance of a rate cut in March, compared with an 80% chance of a May rate hike, according to CME's FedWatch tool. The market will focus on what Federal Reserve Chairman Jerome Powell will say on Friday.

As seen on the technical chart, as gold prices have risen above the October top of $2009.30, the overall trend has completed a technical pull-back pattern and has the opportunity to extend the corresponding increase. In view of the low of $1931.50 on November 13, which is $78.50 away from the top of $2010, that is, the medium-term technical target can point to around $2088. As for the current resistance, which is expected to be $2050, the next level refers to the May's high of $2072.20. As for the supporting level, we will look at $2030 and $2017. The largest supporting level will be expected to be at $2000 and the 25-day moving average of $1,987.
    
London gold forecast range in December:
Resistance 2055 – 2096 – 2115 – 2134
Supported 2013 – 1994 – 1975 – 1934

London Gold December 1
Forecast early range: 2033 – 2043
Resistance 2048 – 2053 – 2060
Support 2028 – 2022 – 2014

SPDR Gold Trust gold holdings:
November 20 – 883.43 tons
November 21 – 883.43 tons
November 22 – 882.28 tons
November 23 – 882.28 tons
November 24 – 882.28 tons
November 27 – 882.28 tons
November 28 – 880.55 tons
November 29 – 878.53 tons
November 30 – 876.51 tons

30/11 AM London Gold Fix: $2037.85
30/11 PM London Gold Fix:  $2035.45

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