GoldPrice

Happy Monday, traders. Welcome to our regular preview of the trading week ahead. Here you’ll find we focus on the economic data, headlines, and market news flow that look the most likely to have an impact on gold prices, as well as the charts for silver, the Dollar, and other key correlated assets.

Happy Friday, traders. Welcome to our weekly recap of the last five trading days, with a focus on the economic data, market news flow, and headlines that had the biggest impact on gold prices, as well as charts for the Dollar and other correlated assets.

Good morning, traders. Welcome to our weekly preview of the trading days ahead, focusing on the economic data, headlines, and market news likely to have the biggest impact on prices for gold and silver, as well as the US Dollar and other key correlated assets.

Happy Friday, traders, and welcome back to our regular market wrap for this (holiday shortened week. As usual here, we’ll be focusing on the data and market news that mean the most for gold prices, as well as silver, the US Dollar, and other key correlated assets.

Good morning, traders. Welcome to our preview of the (holiday-shortened) trading week ahead, focusing on the economic data and market news flow that looks to have the biggest potential impact on precious metals markets, as well as markets for the US Dollar and other key correlated assets.

Happy Thursday-like-a-Friday, traders. Welcome to our weekly market wrap, where we like to focus on the economic data, news flow, and market narratives that have had the biggest impact on gold prices (and may continue to in the future,) as well as key correlated assets like the US Dollar.

The number of Americans applying for unemployment insurance rose to 1.427 million in the week ended June 27, higher than the expected figure of 1 million. Claims have remained above 1 million for 15 weeks in a row. Last week’s figures mark the first time claims have risen beyond expectations since the peak in March.

The US economy added 4.8 million new jobs in June, bringing the rate of unemployment down to 11.1%. Nonfarm payrolls were expected to rise by just 2.9 million rather than the 4.8 million total, a big upside miss. The rate of unemployment also came in better than expected. However, 1.4 million Americans still filed for jobless claims benefits last week, highlighting the fact that the labor market is a long way off any form of recovery.

At last month’s FOMC meeting, the committee agreed to hold rates in their ultra-low positioning while also continuing a rapid pace of asset purchases and other operations in an effort to support the US economy through the current pandemic-driven economic crisis and, hopeful, into a healthy recovery. In the meeting minutes, released this afternoon, we see that the FOMC members felt confident in the decisions made while discussing what next steps are important for building and sustaining economic momentum for a recovery.

The ISM manufacturing purchasing managers’ index (PMI), which measures economic activity in the national manufacturing sector, rose from 43.1 to 52.6 vs. 49.5 expected in June. A reading over 50 indicates positive growth, and June marks the first expansion in the industry since the COVID-19 pandemic struck in April 2020, ending a 131-month string of consecutive growth.

The latest ADP employment report shows that the private sector gained 2,369,000 jobs in June. May figures saw a huge upward revision to 3.06 million jobs added compared 2,760,000 jobs lost as originally reported the month before. Small businesses saw most of the growth in June, with most of the gains in the services sector accounted for most of the growth in June. The US economy is slowly showing signs of recovery from the economic downfall that began in March.

The S&P CoreLogic Case-Shiller index rose 4.7% annually in April, up 0.1% from the month before. The 10-city composite index saw no change at 3.4% annual growth, while the 20-city composite rose 0.1% annually to 4.0%. S&P Dow Jones Indices managing director Craig Lazzara described prices as “remarkably stable,” noting that the price trends in place before the COVID-19 pandemic struck remain relatively undisturbed.