Latest Financial News Impacting Gold Prices
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Price of Gold Holds Gains as ADP Jobs Report Shows 213K Jobs Added
213,000 jobs were added January in the private sector according to the latest ADP National Employment report with growth in almost all sectors. Market expectations predicted a reversal to around 175,000 after the huge surge in private-sector employment which occurred in December.
Gold Price Scores 7-Month High
The gold market today hit a fresh 7-month high as increasing risk aversion and technical buying fuel further upside. There are several key issues in play this week that could potentially keep investors on edge and drive demand for the yellow metal.
Gold Price Rises as Home Price Growth Hits Four-Year Low
Tuesday’s Case Shiller Home Price Index has revealed further decline in the housing industry with the growth of home prices hitting a four-year low, missing market expectations.
Gold Price Preview: January 28 - February 1
It looks like everybody, including the US government, is back to work this week with a packed economic calendar for the US economy and the rest of the world.
Gold Price Recap: January 21 - January 25
As we anticipated heading into the week, US economic news and data flow was mostly quiet as a result of the government shutdown. Following last Friday’s breakdown in support levels, for most of the week gold spot has pivoted around the $1280/oz level.
Gold Price Sharply Higher as Dollar Sinks
The gold market is having a banner day thus far, moving sharply higher on the back of a weaker greenback. The gold market is once again knocking on the door of key resistance around the $1,300 area and could potentially see a significant upside breakout ahead.
Gold Price Dips as US Jobless Claims Hit 49-Year Low
US unemployment benefits claims fell last week to the lowest level since 1969, indicating that the labor market remains highly robust in the face of economic uncertainty in other sectors along with the issues caused by the partial shutdown of the US government.
ECB States Growth Risks Have Moved to Downside, Leaves Interest Rates Unchanged
Today the European Central Bank chose to hold off on any change to interest rate policy in light of weak economic growth reports released earlier today and throughout the last few months.
“Very Disappointing” Euro PMI Shows Business Activity at a Four-Year Low
The HIS Markit Flash Composite Purchasing Manager’s Index has hit a low not seen since mid-2013, with a drop in new work leading the decline which indicates that business activity has hardly expanded at all so far this year.
Bank of Japan Maintains Negative Interest Rates, Governor Discusses Future Policy
The Bank of Japan (BoJ) elected to maintain its negative interest rates on Wednesday as expected, although lowering its inflation expectations for 2019. The BoJ is holding short-term interest at -0.1% in a vote that was seven for, two against.
Soft Activity Reported by Richmond Fed Manufacturing Index, Price of Gold Ticks Upward
Fifth District manufacturing activity in January was reported to be soft according to the most recent survey from the Richmond Fed.
Existing Home Sales Hit Three-Year Low, Below Expectations
US existing home sales have fallen to their lowest rate in over three years, a sign that the housing market continued to dwindle at the close of 2018. Previously-owned homes have sold at the slowest pace since 2015.
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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.
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