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Initial jobless claims in the US fell 18,000 to 234,000 for the week ended December 14, according to the Labor Department’s report on Thursday. Claims had shot up to a two-year high the previous week, with the data possibly skewed by Thanksgiving coming earlier in the year than usual. Claims are still higher than predicted.

US manufacturing output rose above expectations in November following the end of a six-week strike at General Motors, leading to increased production in the auto industry. Manufacturing and industrial output both rose following more modest activity in October.

US homebuilding rose above expectations for November at 3.2% growth or 1.365 additional units. Permits for construction, an indicator of future building, hit above a 12-year high with 1.4% growth. The housing market may be showing signs of an upward trend with rate cuts finally increasing affordability, although builders still report land and labor shortages impacting their business.

Good morning, traders. Welcome to our weekly preview of the macroeconomic data and headlines that will matter most for gold markets this week—the last full week of trading for 2019.

Happy Friday the 13^th, traders. Welcome back to our weekly recap of the data and headlines with the biggest impact on the gold and Dollar markets, both this week and as we move ahead. Gold prices are higher following a milestone week that included the final FOMC meeting of 2019 and the announcement of an initial trade agreement between the US and China.

US consumers spent less than expected coming into the start of the holiday shopping season, indicating reduced economic growth. Retail sales came in at just 0.2% growth for November compared to 0.5% expected, while October sales were revised slightly higher.

The number of Americans filing applications for unemployment benefits rose above more than a two-year high last week. The week ended December 7 saw 252,000 new claims, well above expectations. The data may have been skewed due to seasonal volatility following the Thanksgiving Day holiday.

November saw no change in producer price inflation with reduced costs for services offsetting gains in other areas like gasoline and food. While consumer prices rose in November, producer price inflation was unexpectedly soft. Prices saw no growth following a 0.4% gain the month before.

Gold and silver prices are considerably higher this afternoon following the final FOMC meeting of the year, from which the Federal Reserve left rates unchanged following three consecutive rate cuts while also updating their Staff Economic Projections.

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%.

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.

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.