Latest Financial News Impacting Gold Prices
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Philadelphia Manufacturing Report Tops Expectations Despite Drop, Gold Prices Tick Downward
The Philadelphia Federal Reserve manufacturing index, released on Thursday, indicates a drop from 16.8 in August to 12 in September. Despite the drop, the index topped expectations of a drop to 10 for September. Manufacturing continues to show signs of weakness, due in part to the pressures of the ongoing trade war.
Jobless Claims Below Expectations, Gold Prices Drop
The US government reported a slight increase in jobless claims on Thursday with a 2,000 increase to 208,000 for the week ended September 14. Claims dipped 13,000 to 206,000 the week before, almost a five-month low. Estimates for last week averaged at 215,000.
Gold Prices Give Up Most of the Week’s Gains as FOMC Delivers Another 0.25% Rate Cut
Gold prices are lower this afternoon but are recovering from the day’s lows following the announcement of a second-consecutive 0.25% cut to short term interest rates by the Federal Reserve, and the press conference by Fed Chairman Jerome Powell that followed.
US Homebuilding Hits 12-Year High in August, Gold Price Holds Firm
US homebuilding boomed in August, hitting levels not seen in over 12 years. Housing starts increased by 12.3% for the month of August to 1.364 million units compared to the 4% drop initially reported in July. Expectations for August growth averaged at 1.25 million units.
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.
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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.
