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Consumer Spending Strong in September Despite Income Gains Slowdown
Spending increased in September despite a slowdown in income gains growth resulting in the lowest savings rate of the year. Inflation is on target as per the Federal Reserve policy outlined for the year aimed to gradually increase interest rates.
Slow Expansion in October’s Dallas Fed Manufacturing Outlook
Texas business execs were polled by the Federal Reserve Bank of Dallas on credit availability and borrowing conditions to provide data on Texas Manufacturing Outlook, Texas Service Sector Outlook, and Texas Retail Outlook surveys all compiled into one report.
Consumer Confidence Rises to 18 Year High
According to bloomberg.com, the latest reading on Consumer Confidence rose to an 18 year high. Full employment, economic optimism and higher stock markets all likely playing role to boost confidence.
Housing Price Gains Grind to 20-Month Low
The Case-Shiller index today showed a further deterioration in the U.S. housing market as price gains slid to a 20-month low. According to tradingeconomics.com, the market fell short of consensus estimates of a 5.8% rise.
Large Speculators Scaling Back Bearish Gold Positions
Recent data from the CFTC showed large specs scaling back on bearish positions in gold. The last two reporting weeks have seen a significant decline in bearish bets, as prices have moved higher on improving sentiment and an increasingly bullish technical posture.
GDP Growth Cools to 3.5%
Today’s government report reveals that gross domestic product growth has decreased slightly from the 4.2% growth seen in Q2 to a seasonally adjusted annual rate of 3.5% for Q3.
Consumer Confidence Drops in October, Remains High Overall
After reaching a 14-year high in March 2018 of 101.4, consumer confidence has slipped slightly from September’s figure of 100.1 to 98.6 in October according to a University of Michigan report released earlier today
Chinese Yuan Hits 10 Year Low Against Dollar
The Chinese Yuan has declined against the dollar each day this week, and continues to hover around a 10 year low against the greenback.
Pending Home Sales Boosted by 0.5%
The National Association of Realtors has released a report on pending home sales data which shows that contracts for the purchase of new homes are at a three month high, potentially signaling some good news for the embattled housing market.
New Jobless Claims up, Existing Claims Lowest in 45 Years
Gold prices were largely unaffected by the recent report from the U.S. Labor Department which revealed an increase in new employment benefits claims and a decrease in continuing claims
ECB Confirms Stimulus Exit
The European Central Bank took no action on rates today in a move (or lack thereof) that was not unexpected. Of note, however, was the central bank’s confirmation that it does indeed plan on ending its monetary easing program by the end of the year.
Gold Prices Hold Steady After Manufacturing and Services PMI Increase
Gold prices face mild selling pressure after Tuesday’s three month high in the wake of today’s report on the US manufacturing and services purchasing managers index (PMI) which showed stronger-than-expected growth this month.
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About the GoldPrice.org Team
Benjamin Roussey
Benjamin Roussey has two master’s degrees and served four years in the US Navy. He writes professionally for several sites that cover one sector of our economy to another, including GoldPrice.org.
Benjamin enjoys sports, movies, reading, and current events when he is not working online. He currently resides in the Phoenix area.
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Conor Maloney
Conor Maloney is a journalist with hundreds of articles covering financial markets and topics published on sites like Yahoo Finance and GoldPrice.org.
He is passionate about blockchain, cybersecurity, and financial independence, and he believes in gold as a viable alternative to fiat currency.
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John Moncrief
John Moncrief is an active commodities and currency trader with nearly a decade in the industry. He also has several years of experience in writing market analysis and research notes.
John’s particular interest is in examining precious metals and currency trends through a focus on macroeconomic drivers and behavioral economic theory; although he’s probably spent at least as much time reading Stan Lee as he has Richard Thaler.
Matthew Bolden
Matthew Bolden is an active trader and investor. His passions include writing about financial markets in a simple, pragmatic way. His work has been seen in various arenas within the world of global finance, and he has written commentary on several markets including precious metals, stocks, currencies and options.
Matthew is an avid reader, student of the markets and sports enthusiast who resides in the greater Chicago area.
Ryan Page
Ryan Page has worked for 3 years as a commodities derivative’s trader. He has been building models to analyze global macro data and evaluate risk for more than 5 years.
Ryan has been trading since he was 14 years old. He enjoys playing mid to high stakes poker, with immense experience studying and applying game theory.
