Gold: Next week's key macroeconomic events to keep an eye on

The troy ounce of the precious metal gained more than 1.5% last week and closed at its highest level since October of 2012 at $1,771. Heightened concerns over the surging number of coronavirus cases crippling the global economic recovery ramped up the demand for safe-haven gold last week.

With coronavirus figures from the US showing no signs of slowing down over the weekend, markets are likely to remain risk-averse at the start of the new week.

Coming up next week

On Monday, Consumer Confidence and Economic Sentiment data will be featured in the European economic docket. Moreover, the EU and the UK will kick off the next round of Brexit negotiations.

On Tuesday, first-quarter GDP figures from the UK will be watched closely by the market participants. In the second half of the day, FOMC Chairman Jerome Powell is scheduled to deliver a speech. The Conference Board's Consumer Confidence data from the US will be looked upon for fresh catalysts as well.

On Wednesday, the ADP's Employment Change and the ISM's Manufacturing PMI will be featured in the US economic docket. At 18:00 GMT, the FOMC will release the minutes of its June meeting.

Finally, on Thursday, the US Bureau of Labor Statistics will publish the jobs report, which will include Nonfarm Payrolls and Unemployment rate figures. 

Meanwhile, investors will keep a close eye on coronavirus headlines, especially infection numbers from the US.