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.
Markets Are Choppy as the Fed Indicates a Patient Stance
Today’s meeting left rates unchanged which was already assumed by the markets. Following the statement yields were down between 3 and 4 basis points after the Fed reiterated their stance of patience.
Gold Price Higher Following Unexpectedly Weak Manufacturing Report
The Institute for Supply Management (ISM) released its Manufacturing ISM Report on Business on Wednesday, revealing that economic activity in the sector dipped from 55.3 in March to 52.8 in April, failing to meet market expectations of 55.
Price of Gold Loses Momentum as Private Sector Flourishes With Unexpected 275k Job Gain
The private sector added 275,000 jobs in April vs. just 180,000 expected following the low figure of 129,000 the month before. While a slight uptick was expected, the steep surge in job growth points to unexpected health in the services industry.
Big Miss as Chicago PMI Hits Two-Year Low, Gold Price Rises
The ISM-Chicago survey which measures business activity and presents a regional view of the economy fell sharply on Tuesday, dropping to 52.6 from 58.7 in March. The result is contrary to relatively flat expectations of a 0.03 gain.
Growth in Home Prices Remains Slow in February, Gold Price Rises
Home prices continued to creep up at a modest pace in February with 4% gain compared to February 2018, down from 4.2% annual growth in January.
Gold Price Preview: April 29 - May 3
Good morning traders, welcome to a very crowded preview of the week ahead’s macroeconomic calendar. After holding up well in Sunday evening trading, gold prices are down roughly $5 from last week’s close as we begin Monday’s US session.
Gold Price Recap: April 22 - 26
This week has been very back-loaded for gold traders. After spot prices spent the first half of the week flirting with new lows beneath $1270/oz, Thursday and Friday’s gold trading—spurred on by some quietly concerning data on the US Economy—drew a decidedly upward trajectory that has lead to a break back above $1285.
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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.
