US Core Inflation Punches Through Yearly High, Gold Holds Above $1,400
The core-consumer prices index saw the biggest gain since January 2018 in June with 2.1% gain vs. 2% expected. The data indicates rising inflation pressures, although the Federal Reserve is still considered likely to implement rate cuts this month.
Federal Reserve Weary About the Condition of the Economy
Stocks hit new highs today as the Fed has indicated that an interest rate cut is imminent, Fed Funds futures agree. During last months meeting the Federal Reserve held rates steady waiting to see more economic data that would indicate the economy is slowing down.
Gold Price Preview: July 8 - 12
Happy Monday, traders. Welcome to your weekly look ahead at the macroeconomic calendar from the perspective of the gold market. We’ve got a relatively quiet slate over the next five days, but there are still a few potential flash points.
Gold Price Recap: July 1 - 5
Happy Friday traders, welcome to your recap of the week.
Strong Jobs Report May Offset Rate Cuts, Gold Prices Fall
Nonfarm payrolls rose 224,000 in June, easily surpassing the market expectations of 165,000 according to a report released by the Labor Department on Friday.
Non-Manufacturing Data Give Gold Another Jumpstart
The non-manufacturing index fell to 55.1 from 56.9 in today’s ISM data. Three out of the four components that make up the index took a dive. New orders were the lowest since December of 2017 and employment dropped by the most in 16 months.
Gold Prices Rise Despite Dip in Initial Jobless Claims
The number of Americans applying for unemployment benefits for the week ended June 29 dipped modestly from 227,000 to 221,000. This is slightly above the market expectation of 220,000, but the data indicates that layoffs are relatively low.
Gold Price Spikes Following Big Miss in Employment
The latest ADP employment report released on Wednesday revealed that the private sector added 102,000 jobs compared to 140,000 expected. The previous month’s figures were revised upwards from 27,000 to 41,000.
Gold Price Preview: July 1 - July 5
Welcome back to the markets on a Monday, traders. Our charts look very different this morning than they did last week, so let’s jump right in. At time of writing, gold prices are $15 lower on the day, having rebounded slightly from lows as deep as $1383 in the overnight session.
Gold Price Recap: June 24 - June 28
An energetic week for gold trading to be sure, despite the (relative) de-escalation-by-omission of US tension with Iran, and the sense that the markets at large were playing wait-and-see ahead of this weekend’s G-20 meeting in Japan.
Tame Inflation Pressures May Prompt Rate Cuts, Gold Price Holds Firm
Consumer prices measured by the personal consumption expenditures (PCE) price index rose 0.2% in May. The core-PCE index, a key metric used by the Federal Reserve to gauge inflation pressure, rose by 1.5% annually, down from April’s 1.6% rise.
US Consumer Spending and Income Rise Moderately in May
Consumer spending in the US, which accounts for two thirds of the economy, rose by 0.4% with increased spending on motor vehicles, eating at restaurants, and hotel accommodation. Income rose by 0.5%.
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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.
