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Gold Price Rises as Empire State Manufacturing Index Hits Six-Month High in May
The New York Federal Reserve announced on Wednesday that the Empire State manufacturing survey reached a six-month high in May, climbing from 10.1 in April to 17.8 in May. The result is well above market expectations of a 2-point decline to 8.0.
Gold Price Preview: May 13 - May 17
Good morning traders, welcome to another week in the markets. We’re off to an energetic start to the week, after the mild quiet of Sunday evening and overnight trading was broken by the news of China’s trade retaliation which has sunk the Dollar and US Equities and lifted gold prices more than $10 at time of writing.
Gold Price Recap: May 6 - May 10
Good morning traders, and happy Friday. There wasn’t a great deal on the economic calendar this week, so without much to breakdown we can send everyone home early for the weekend. So, what kind of week has it been?
Gold Prices Climb as US Consumer Prices Rise in April, Inflation Remains Muted
Consumer prices in April rose 0.3% in April, in line with market expectations following a 0.4% gain in March. Annually, the Consumer Price Index (CPI) was slightly below expectations. Inflation pressure remains tame for the time being.
Jobless Claims Fall Less Than Expected, Little Change to the Markets
Economists forecasted jobless claims to decrease to 220,000. The figure was a slight miss as jobless claims reported a seasonally adjusted 228,000 for the week ending May 4th. The number of people still receiving benefits after the first week increased 13,000 to 1.68 million for the week ending April 27th. April added 263,000 jobs with the unemployment rate dropping to 3.6%.
US Trade Deficit Widens in March but Gap With China Hits Three-Year Low
The US trade deficit grew slightly in March by 1.5% to $50.4 billion, and the trade gap with China sunk to the lowest level in three years due to sinking imports in an ongoing trade war between Washington and Beijing.
Gold Price Dips Following Tame Inflation Pressure From Producer Prices in April
A measure of US inflation pressure rose beneath market expectations in April, with the Producer Prices Index (PPI) increasing by 2.4% annually.
German Industrial Production Rose Unexpectedly in March, Spot Gold Price Tests $1290
German industrial production defied expectations of a -0.5% contraction, with the latest report indicating 0.5% growth instead. The report has wider implications for the Eurozone economy.
Gold Price Preview: May 6 - May 10
Happy Monday traders, welcome to your look at the macroeconomic week ahead as it pertains to gold markets. This morning gold spot price is trading roughly where it had closed last week’s session on Friday, but that doesn’t quite tell the whole story.
Gold Price Recap: April 29 - May 3
Happy Friday traders, quite a start to the day (and end to the week) that we’re seeing. At the time of writing, just after the release of more lackluster PMI data (this time for the service sector of the US economy,) gold prices have ridden a healthy bid following the April Jobs Report and are now looking to retake the $1280/oz level to close the week.
Gold Prices Rise as Nonfarm Payrolls Surge, Unemployment Dips Near 50-Year-Low
The US Bureau of Labor Statistics released a report on Friday indicating that nonfarm employment rose by 263,000 jobs in April, well above the market expectation of 185,000.
Gold Prices Remain Down Following Flat Jobless Claims Data
The US Department of Labor has reported no change in the amount of Americans filing for unemployment benefits for the week ended April 27 with 230,000 claims vs. 215-220,000 expected.
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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.
