Gold market movers: Feb 03 - 09

Every Monday, I drop a weekly rundown of key financial events and data releases that matter for the Gold market. These are the big moves and trends you need to watch to stay ahead in the XAU/USD game.

The calendar structure:

• Date

• Country → Event

• What the event is about

  • 📰 Previous readings, forecasts etc.

  • 🚨 Why it matters

    • 🔴 Negative impact on Gold

    • 🟢 Bullish impact on Gold

    • 🟡 Mixed/neutral impact

Monday, February 03

🇨🇳 China’s Caixin Manufacturing PMI

measures the health of the manufacturing sector in China based on surveys of purchasing managers at manufacturing companies. It focuses more on small to medium-sized private companies → it can show how the broader, non-governmental part of China’s economy is performing.

A PMI above 50 indicates expansion and below 50 indicates contraction.

📰 Actual: 50.1, lower than expected

• 🚨 Why it matters for Gold: China is one of the largest consumers of Gold, both for industrial purposes and as a store of value (like jewelry and investment). When its manufacturing sector is doing well, it often signals a stronger Chinese economy. This can lead to different effects on the Gold market, depending on broader global economic trends and sentiment.

  • 📈 Higher-than-expected index (above 50): expansion in manufacturing and healthy demand.

    → 🔴 riskier assets get more appealing, reducing safe-haven demand for Gold.

    → 🟢 often correlates with robust demand for raw materials and commodities, driving inflationary pressures. It can support demand for Gold as an inflation hedge.

    → 🟢 the Chinese yuan might strengthen against the U.S. dollar by comparison, making Gold cheaper for international buyers.

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  • 📉 Lower-than-expected index (below 50): a slowdown or contraction in manufacturing; concerns about weaker global growth.

    → 🟢 investors may turn to Gold as a safe-haven asset in response to economic uncertainty.

    → 🔴 may signal lower demand for commodities, reducing global inflation concerns. It may potentially weigh on XAU/USD, offsetting the positive impact on Gold.

    → 🔴 can lead to yuan depreciation, which can strengthen the dollar and put downward pressure on Gold prices by making it more expensive in other currencies.

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🇮🇹 Italy’s Inflation Rate YoY Prel

measures how much prices of goods and services have increased compared to the same period last year. A preliminary number is an estimate and may be revised later.

📰 Actual: 1.5%

🇪🇺 Eurozone’s Inflation Rate YoY Flash

the flash estimate for inflation across the Eurozone, including all member countries using the Euro. It reflects the aggregated inflation picture.

📰 Actual: 2.5%, higher than expected

• 🚨 Why these events matter for Gold: The data gives an early