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Durable Goods Orders Drop Below Expectations, Gold Price Ticks Downward
US durable goods orders dipped in May for the third time in four months, pulled down by a canceled order for the controversial Boeing 737 which was involved in multiple fatal crashes.
Home Sales Drop Unexpectedly for Second Month in a Row, Gold Price Rises
Sales of US single-family homes have dropped for a second straight month, defying market expectations of an increase. Lower mortgage rates introduced earlier in the year may be failing to stimulate the embattled housing market.
Flat Richmond Manufacturing Result in Troubled Sector
The Richmond Fed Manufacturing Index came in at 3 vs. 4 expected. The report follows other signs of weakness in the manufacturing industry with the Philly Fed Index nearing zero.
US Home Prices Rise In April
Home prices saw a 3.5% annual increase in April according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The March index showed a 3.7% gain compared to March 2018.
Gold Price Preview: June 24 - June 28
Hello traders, welcome back to another week in the metals markets. After closing just below the big-time (that’s a technical term) psychological level of $1400/oz to close last week, gold spot prices have seen further gains since the start of Asian trading Sunday evening and now trade at $1410 and not far off of last week’s 6-year high.
Gold Price Recap: June 17 - June 21
Happy Friday, traders! Welcome to your recap of the week in gold markets. Gold prices are markedly higher this afternoon following an explosive week of trading, driven by the Fed’s extremely dovish June meeting and the escalation of tensions around the Persian Gulf.
Philly Fed Manufacturing Index Plunges Toward Zero, Gold Price Climbs
The Philadelphia Fed’s manufacturing index fell to just 0.3 in June from 16.6 in May. The index is now near levels seen in February when it hit zero, indicating ongoing weakness in the manufacturing industry.
Jobless Claims Fall More Than Expected, Gold Prices Soar Toward 5-Year High
The number of Americans filing applications for unemployment benefits dropped to 216,000 last week, below expectations. The data indicates ongoing strength in the labor market despite a pronounced slowdown in job growth in May.
Gold Prices Rally After Fed Signals Dovish Outlook
At the end of another Fed day, this one including a quarterly update of the Staff Economic Projections, gold prices are solidly higher, up roughly $13 from Tuesday’s closing levels as the committee left short-term borrowing rates unchanged for now but appear to have opened a wide door for a rate cut in the near-to-medium future.
Federal Reserve Rate Decision Preview
The Federal Reserve is set to make a very important rate decision today. The recent moves in gold, the dollar and equities reflect the markets anticipation that the Fed will indicate rate cuts in the meetings following this one. The market has mostly priced in the FOMC removing patience from its forward guidance and now awaits the Fed to put that in writing.
Gold Price Preview: June 17 - June 21
You can expect a fairly quiet start to the week, as all eyes will be on the FOMC meeting on Wednesday which will include the quarterly update to the Staff Economic Projections. For now, gold prices are a few dollars below their closing level from last week in what looks like a reasonable Monday morning continuation of Friday’s pull-back.
Gold Price Recap: June 10 - June 14
Happy Friday traders! Did you miss me? The last two weeks of trekking the Italian coastline have hopefully not whittled my analytical skills too much, and I’m glad to be back with you. Big thanks to my friend Ryan Page for covering the Monday/Friday posts while I was away.
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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.
Follow Conor at @iWriteCrypto on Twitter.
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.
