GoldPrice

The Labor Department reported a slight increase in the number of Americans filing applications for unemployment benefits, indicating ongoing strength in the market. Initial jobless claims rose 3,000 to 213,000 for the week ended September 21 according to a report released on Thursday, while data for the week prior was revised upward by 2,000 applications.

The rate of sales of new homes in the US rose above expectations in August with a decline in mortgage rates fueling increased demand for property. According to a report released by the Commerce Department on Wednesday, single-family home sales rose 7.1% annually, well above market expectations of 3.5%.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 3.2% annually in July after a 3.2% rise also seen in June. Despite the steady growth in the overall index, home prices are still undergoing a slowdown in major cities.

Good morning, traders. Welcome to our preview of the week ahead in macroeconomic data for the precious metals and currency markets. Gold is trading higher this morning, near $1520/oz, after initially gapping lower at Sunday evening’s open; silver prices have started the week strongly as well, trading around $18.45/oz.

Happy Friday, traders. Welcome to your recap of the week in the precious metals markets. At the time of writing this afternoon, gold prices appear set to close firmly higher for the week as a relatively calm gold chart over the last four days has been roiled by the sudden reemergence of concerns around the next round of trade negotiations between the US and China.

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.

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 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 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.

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.

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.

Happy Friday the 13^th, 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.