Latest Financial News Impacting Gold Prices
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Moderate Manufacturing Activity Reported in August, Gold Price Rises
The Federal Reserve Bank of Richmond reported moderate manufacturing activity in August in the Fifth District, according to their most recent survey. The composite index rose 13 points from negative territory in July to 1 in August.
US Home Price Growth Nears 7-Year Low, Gold Price Rises
Home prices in June rose 3.1% on an annual basis, according to the S&P CoreLogic Case-Shiller national home price index. The figure is down from the 3.3% gain seen in May, which in turn was down from the month prior. US home prices have now cooled for 15 months in a row.
Gold Price Preview: August 26 - August 30
Good morning, traders; welcome back to our Monday look ahead at this week’s macro data that’s most useful to precious metals and currency traders.
Gold Price Recap: August 19 - August 23
Happy Friday, traders. Welcome back to our recap of the week in gold markets. Seemed like we were all falling asleep for a little while to begin the week, but we’re certainly having fun (or something like it) now. Gold prices are roughly $12 for the week (but upwards of $20 for the day) on the back of a blockbuster Friday in world markets.
Sharp Drop in New Home Sales, Gold Price Climbs
US new home sales missed expectations in July with a sharp 12.8% drop reported by the Commerce Department on Friday. 635,000 new homes were sold in July, down from June’s revised rate of 728,000 and below estimates of 647,000 units.
No Rulebook for a Trade War – Fed’s Powell Speaks, Gold Price Holds Steady
Federal Reserve Chairman Jerome Powell made some measured statements on the current state of the economy on Friday morning, with financial markets experiencing steep volatility beforehand. Powell reassured the public that the Fed is dedicated to extending the current period of economic expansion despite headwinds such as the US/China trade war.
Gold Prices Below $1,500 After Large Drop in Jobless Claims
The number of Americans filing applications for unemployment benefits dropped 12,000 last week, back near a 50-year low. Jobless claims came in at 209,000 for the week ended August 17, indicating continuous underlying strength in the labor market.
Fed States Tariffs Risk “Significant Negative Effects” on Economy, Price of Gold Holds Steady
Policymakers who attended the July Federal Reserve meeting reportedly cited the trade war as a major, ongoing threat to economic progress, as well as the general slowdown seen worldwide. The rate cut introduced in late July was aimed as insurance against these recessionary pressures.
Gold Price Sees Pressure as Home Sales Rise More Than Expected in July
US home sales in July rose above expectations in July, with a strong labor market and the effects of lower mortgage rates boosting the struggling housing market.
Gold Price Preview: August 19 - August 23
Good morning, traders! Welcome to your weekly look ahead at what matters in the gold and currency markets. At time of writing thing morning, gold prices are lower to start the week but have managed to retake a position above $1500/oz following some deeper weakness starting in the European trading session overnight.
Gold Price Recap: August 12 - August 16
Happy Friday, traders. Welcome back to your recap of the week behind us in the gold markets. At the time of writing, gold is maintaining its gains from Monday’s trading and cruising towards a sixth-consecutive winning week, with spot prices trading neat $1512/oz.
US Consumer Sentiment Hits 7-Month Low, Gold Price Falls
Gold prices saw a brief recovery before dipping further following the release of a consumer sentiment report from the University of Michigan. The report indicates that consumer sentiment hit a 7-month low in August amid growing concerns surrounding the trade conflict between the US and China.
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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.
