Gold Turns to Fed Minutes and Housing, PMI Figures for Direction

Investors are zeroing in on the U.S. economy’s health and the Federal Reserve’s rate outlook, as gold and silver gear up for the coming week. Softer inflation and consumer spending have trimmed the odds of a September hike to roughly 31 percent, lifting gold to its highest level since June 5 and pushing silver above $64 an ounce.

Monday opens with the New York Empire State Manufacturing Index, followed on Tuesday by housing starts, building permits and pending home sales. Wednesday’s FOMC minutes from the late-July meeting will offer the clearest clues on how officials view inflation versus slowing growth.

Thursday brings weekly jobless claims and the Philadelphia Fed survey, while Friday delivers the flash S&P Global Composite PMI. Soft readings plus dovish minutes could reinforce expectations of unchanged rates and buoy precious metals, whereas firmer data might lift yields and pressure prices.