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Strong Manufacturing Reports Ease Fears of Recession, Gold Prices Slip
Business activity indices for New York and Philadelphia released simultaneously on Thursday morning show ongoing expansion in August, easing worries of a decline. While the US/China trade war has had a major negative impact on manufacturing, the latest report showed results well above expectations.
Initial Jobless Claims Rise Above Expectations, Price of Gold Ticks Downward
The number of Americans applying for unemployment benefits for the week ended August 10 rose by 9,000 according to the latest report from the Labor Department. Initial jobless claims are now at the highest level since June.
CPI Inflation Data Remains Steady in July, Gold Prices Rise
The consumer price index rose 0.3% in July according to a government report released on Tuesday, with price increases in categories like gasoline and rent. The gain is in line with market expectations. The cost of living rose marginally from 1.6% to 1.8%.
Gold Price Preview: August 12 - August 16
Good morning, traders. Welcome back to another week in the metals and currency markets, and to our look at the week’s macroeconomic calendar. Gold spot price is back above $1500 this morning, trading $1503/oz at time of writing.
Gold Price Recap: August 5 - August 9
Happy Friday, traders. Welcome back to your recap of the week in metals and currency markets. At the time of writing this afternoon, gold is weakening a bit for the day, but shining bright with massive gains on the week representing six-year highs.
Producer Prices in July Indicate Flat Wholesale Inflation, Gold Price Ticks Downward
The Producer Price Index rose 0.2% in July on a monthly basis compared to 0.1% the month prior, with no rise in the flat annual reading of 1.7%. The monthly reading is in line with market expectations.
Initial Jobless Claims Come in Below Expectations, Gold Prices Fall
US initial jobless claims for the week ended August 03 came in at 209,000 vs. 215,000 expected, with figures for the prior week revised from 215,000 to 217,000. Continuing claims also saw a slight reduction.
Gold Prices Driven Above $1,500 and a 6-Year High – Can They Stay There?
The price of gold has continued its rocket-shot of a week today as the world’s financial markets are reeling; breaking to a six-year high above the major psychological line of $1500 an ounce this morning.
Chicago Fed’s Charles Evans Hints at Further Rate Cuts, Gold Prices Rise
Charles Evans of the Chicago Federal Reserve made statements on Wednesday morning to comment on the Fed’s monetary policy on interest rates, as well as the current state of the economy. Evans took a dovish approach, signaling that more rate cuts may be on the horizon.
Gold Price Preview: August 5 - August 9
Good morning, traders. Welcome back to Monday, and a look at our week ahead in the gold market and related assets. The economic calendar for this week is especially light and even has far fewer scheduled public appearances by FOMC officials than we typically see post-meeting.
Gold Price Recap: July 29 - August 2
Happy Friday, traders. Welcome to our weekly recap of the metals markets, are you still with us?
Employment Hits Record High in July, Gold Price Ticks Upward
The US labor force reached a total of 163.4 million in July, a record high, after adding 164,000 jobs. Jobs growth was actually below expectations of 165,000 - 170,000, although the data still points to a robust labor market.
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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.
