Key events to affect XAU/USD prices (Nov 18 - Nov 24)

Hello, fellow traders!

Here’s a snapshot of all the high-priority economic events for Nov 18 - 24.

Tuesday, November 19

• 🇦🇺 RBA’s Meeting Minutes: the official record of the latest policy meeting held by the Reserve Bank of Australia (RBA). They provide a detailed summary of what the central bank discussed, including their outlook on inflation, employment, interest rates, and the overall Australian economy. Think of it like a behind-the-scenes look at what the RBA is thinking and planning when it comes to monetary policy.

  📰 The RBA may hold rates at 4.35% until mid-2025. After that, a gradual cut may follow as inflation eases and economic pressures stabilize.

  • 🚨 Why it matters for Gold: Gold is highly sensitive to central bank policies because they affect the value of currencies and interest rates, both of which directly impact Gold prices. The RBA often comments on global economic risks like trade tensions, China’s growth (Australia’s biggest trading partner), and inflation trends.

    • 📈 Hawkish tone (higher rates):

      → strengthens the Australian dollar

      → can push global bond yields higher. This makes Gold less attractive because Gold doesn’t pay interest.

      → XAU/USD may drop, especially if the USD strengthens alongside the AUD.

    • 📉 Dovish tone (lower rates):

      → can weaken the Australian dollar and pressure yields, which is bullish for Gold.

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• 🇺🇸 The U.S. Building Permits: measures the number of new residential building permits issued by the government. It’s a forward-looking indicator of future construction activity and reflects the health of the housing market and broader economic conditions. Since building permits are required before construction starts, they provide insight into future housing supply and demand trends.

  📰 Previous: 1.425M

  Forecast: 1.440M

  • 🚨 Why it matters for Gold:

    • 📈 Increasing building permits:

      → a sign of economic optimism and confidence in future growth.

      → more construction means that developers expect demand for housing to rise, reflecting strong consumer confidence and job growth.

      → investors may shift toward riskier assets, such as stocks, and away from safe-haven assets like Gold, leading to lower XAU/USD.

      → might lift the US dollar, which could further pressure Gold prices downward.

      → may increase expectations that the Fed will tighten monetary policy by raising interest rates to prevent the economy from overheating, pressuring XAU/USD.

    • 📉 Declining building permits: