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Industrial Production Beats Expectations in August, Gold Prices Tick Downward
US manufacturing output rose above expectations of 0.2% gain in August with a 0.6% gain following the -0.4% drop seen the month before, according to the US Federal Reserve. However, trade conflicts and worsening global economic conditions continue to place pressure on the industry, with the outlook for factories remaining dim.
Gold Price Preview: September 16 - 20
Good morning, traders. Welcome to your preview of the macroeconomic week ahead for precious metals and currency traders. Gold spot prices are trading just below $1500/oz this morning, roughly $10 higher than last week’s closing price and the same $10 or so below the high points reached in overnight trading. Silver is currently going for $17.83/oz.
Gold Price Recap: September 9 - 13
Happy Friday the 13th, traders. Welcome to your recap of this week in metals markets. At the time of writing, gold spot prices are weaker and looking for support around $1490 in order to hope for a strong start to next week.
Gold Prices Slow Down Following Mixed Retail Sales Data
US retail sales saw a modest increase in August, led by a robust e-commerce industry and increased demand for vehicles. Released by the Commerce Department on Friday, the retail sales report also indicates risk-averse sentiment among consumers.
Gold Prices Take Off Despite 5-Month Low in US Jobless Claims
The number of Americans filing for unemployment benefits fell to the lowest point in 5 months for the week ended September 7 according to a report released by the Labor Department on Thursday.
Mild Boost in US Core Producer Prices May Mean Stable Inflation, Gold Prices Unchanged
US producer prices rose 0.1% in July and 1.8% annually in August, according to a report released on Thursday by the Labor Department.
Gold Price Preview: September 9 - 13
Good morning, traders. Welcome to this week’s rundown of the macroeconomic data and market headlines that precious metals and currency traders should be keeping an eye on.
Gold Price Recap: September 3 - 6
Happy Friday, traders! Welcome to your recap of the week in metals and currency markets.
Hiring Slows but Remains Strong in August, Gold Prices Tick Upward
The US economy added 130,000 jobs in August compared to 160,000 expected, while the unemployment rate remained flat as expected at 3.7%. The low rate of unemployment, near a 50-year low, along with strong labor market data released yesterday by the Labor Market and ADP, points to a strong and healthy market despite increasingly vulnerable economic conditions.
ISM Non-Manufacturing PMI Shines Some Light on the US Economy
The Institute for Supply Management’s (ISM) Non-Manufacturing PMI report shows that economic activity in the United States service sector beats expectations, 56.4 actual vs 54 expected, and a significant improvement from July’s reading of 53.7. Non-Manufacturing PMI is coming off a 2-month slowdown, this data point is a sign of strength for the US service sector.
Gold Prices Dip as Jobless Claims Remain Stable
The number of Americans applying for unemployment benefits saw a moderate increase last week, remaining near the lowest level since 1969. Coupled with unexpectedly high levels of job creation in the private sector in August, the report indicates ongoing strength in the US labor market.
Gold Prices Drop After Four-Month High in US Job Creation
US companies added the most jobs in four months in August, with payrolls increasing by 195,000 compared to estimates of 148,000 and 142,000 the month prior. Combined with stable jobless claims data, the US labor market appears to remain in good health.
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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.
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Conor Maloney is a journalist with hundreds of articles covering financial markets and topics published on sites like Yahoo Finance and GoldPrice.org.
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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.
