The trading tone in gold and silver Friday will likely be set following the release of the advance U.S. gross domestic product estimate for the first quarter.
The first-quarter advance gross domestic product estimate is seen coming in at a 3.2% annual growth rate, which follows a paltry 0.4% growth rate in the fourth quarter of last year.
FORBES: A.M. Kitco Metals Roundup: Comex Gold Firmer As U.S. GDP Data Awaited
Rising weekly jobless claims and a tepid gross domestic product estimate for the second quarter added to a recent string of weak U.S. economic data that is making for increasing speculation the Federal Reserve may opt for another round of quantitative easing of U.S. monetary policy.
The economy slowed to a 1.5% growth rate in the April-to-June period, from 2.0% in the first quarter, according to Commerce's first estimate of gross domestic product last week.
Small caps will likely growth 20% in terms of earnings per share in 2012, according to JP Morgan, which basis its estimate on gross domestic product growth ranging from 2.5% to 3%.
The release is the ONS's earliest estimate of gross domestic product and the figure is often revised as data for the full three months is not yet available for every sector of the economy.
In another key announcement, Mr. Chidambaram said also that the fiscal deficit for the current fiscal year ending March 31 could turn out to be lower than the earlier estimate of 5.2% of gross domestic product.
Gross domestic product expanded by 1.7%, greater than the original estimate of 1.5% growth, new Labor Department data shows.
FORBES: Higher Q2 GDP Estimate To 1.7% Not Enough To Ease Fears
Fourth-quarter U.S. gross domestic product was revised up to 3.0% from a previous estimate of 2.8%, and against expectations for a figure of 2.7%.
U.S. durable goods orders fell a whopping 13% in August, while the latest estimate for second-quarter U.S. gross domestic product saw the growth rate shaved by 0.4%, to just 1.3% growth.
FORBES: P.M. Kitco Metals Roundup: Gold Surges on Spain Budget News, Ideas of Fresh China Stimulus
Gold prices rose on Friday, supported by a stronger-than-expected estimate of third-quarter U.S. gross domestic product report, which showed the U.S. economy grew by 2%, versus 1.3% in the second quarter.
FORBES: METALS OUTLOOK: Cautious Trading May Remain The Trend For Gold
And Fannie Mae economists estimate that residential investment in 2012 will positively contribute to gross domestic product for the first time since 2005.
FORBES: How The Housing Recovery Will Take Shape In Coming Months
Note that real gross domestic income increased only 1.7 percent in the third quarter (second estimate) compared to 2.7 percent growth in real gross domestic product.
Analysts estimate that poor infrastructure facilities in the country remove about two percentage points from gross domestic product growth.
According to one estimate, India's underground economy accounts for 50% of the country's gross domestic product.
The geopolitical tensions overshadowed an upbeat gross domestic product report, which showed the economy grew 2.5% during the third quarter, up from the initial estimate of 2%.
应用推荐