US Consumer Inflation Hits Yearly High, Gold Price Ticks Upward
US consumer inflation remains quite low, although last month saw gains in the cost of gas, rent, and health care. With tame inflation throughout 2019, consumer inflation is now at a yearly high. The consumer price index (CPI) rose 0.3%, slightly above expectations of 0.2%.
Gold Price Preview: December 9 - December 13
Good morning, traders. Welcome back to another week in the markets, and to our weekly preview of the events on the macroeconomic calendar that matter most for gold and Dollar prices. Gold is trading modestly higher this morning as equity markets take a bit of a breather and technical traders are boosting the yellow metal back above $1460/oz support levels.
Gold Price Recap: December 2 - December 6
Happy Friday, traders. Welcome to our regular recap of the week’s headlines and macroeconomic data that mattered most to the gold and currency markets.
Gold Price Drops Further as US Consumer Sentiment Hits 7-Month High
US consumer sentiment was measured at 99.2 on the latest University of Michigan consumer sentiment index, an increase from 96.8. The result beat expectations, indicating an improvement in consumer’s confidence in their buying ability coming into the holiday season.
Gold Prices Drop as Jobs Report Beats Expectations, Unemployment Drops to 3.5%
The November report from the Labor Department saw 266,000 new jobs added vs. just 180,000 expected. The labor market felt the influx of workers returning from the recently ended strike at General Motors, boosting figures. Unemployment dropped from 3.6% to 3.5%, beating expectations of a flat reading.
Jobless Claims Hit 7-Month Low, Gold Prices Remain Flat
The number of Americans filing applications for unemployment benefits dropped below expectations last week, indicating ongoing strength in the labor market despite major hiring slowdowns. However, it’s possible that the figure has been skewed by the Thanksgiving’s Day holiday last Thursday. Claims are now at the lowest level in 7 months, falling to 203,000 for the week ended November 30 according to the Labor Department. Claims were forecast to reach 215,000.
Gold Price Keeps Falling Despite Unexpected Slowdown in Service Sector
The US service sector declined further than expected in November as the trade war continues to impact multiple industries. A shortage of skilled laborers is also a factor in the decline. The ISM non-manufacturing index dropped to 53.9 in November from 54.7 the month before, below expectations of 54.5.
Gold Price Dip Despite Job Market “Losing Its Shine” With Weak November Growth
Private payrolls rose by 67,000 jobs in November according to ADP and Moody’s Analytics. The figure was drastically lower than the expected results of 150,000 new jobs, indicating the slowest growth since May. The estimated minimum number of new jobs required to keep pace with growth in the working age population is 100,000.
Gold Price Preview: December 2 - December 6
Good morning, traders. Welcome to our weekly preview of the macroeconomic data and major narratives that matter for the gold markets for this, the first week of the last month of the year.
Gold Price Recap: November 25 - November 29
Happy Friday, traders. Welcome to our recap of the news and economic data this week that was the most important for the gold market. With a shortened and lightly attended week due to the Thanksgiving holiday in the US, we have a shortened recap this week befitting five days of trading in precious metals and currencies that was largely uneventful until Friday’s US session.
Gold Prices Dip After Upbeat US GDP and Inflation Data
Q3 GDP came in at 2.1% vs. 1.9% expected during the second preliminary estimate which was released on Wednesday. Growth was partially due to gains in personal consumption expenditures (PCE).
Initial Jobless Claims Drop Back to 213,000 After Climbing Upward, Gold Price Under Pressure
The number of people who applied for unemployment benefits fell sharply last week, returning near historic lows the week before Thanksgiving and indicating ongoing strength in the labor market. Claims fell 15,000 in the week ended November 23 after hitting a 5-month high.
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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.
