GoldPrice

Happy holiday Friday, traders. Welcome to our appropriately brief recap of the week in the precious metals market. Gold prices are at a 7-week high in today’s very light trading, while silver looks poised for a possible move back above $18/oz; all in spite of a general risk-on mood in global markets that has seen the major US equity markets continue to reach new (if still uninspiring) highs.

Happy holidays, traders! Welcome to the start of our two shortened trading weeks to end 2019 and roll into 2020. News flow and data releases will be minimized this week (and next) with the bank holidays falling mid-week. During the start of US trading sessions between now and January 6, it’s helpful to remember that the majority of London-based traders are offline and so market liquidity will be particularly low during those hours.

Happy Friday, traders; welcome to our regular Friday recap of the week’s macroeconomic data and headlines that mattered most to the precious metals and Dollar markets. And the final full trading week of 2019, at that!

Consumer spending, which accounts for two-thirds of US economic activity, showed robust growth in November as expected with 0.4% growth according to the Commerce Department. The increase was accompanied by a rise in personal income of 0.5%, allowing for increased spending approaching the holiday shopping season.

The Philadelphia Federal Reserve manufacturing index dropped 10 points in December, failing to meet expectations and falling to a six-month low. Now at 0.3, the index is just barely showing growth in the sector, with any reading below 0 indicating contraction.

Initial jobless claims in the US fell 18,000 to 234,000 for the week ended December 14, according to the Labor Department’s report on Thursday. Claims had shot up to a two-year high the previous week, with the data possibly skewed by Thanksgiving coming earlier in the year than usual. Claims are still higher than predicted.

US manufacturing output rose above expectations in November following the end of a six-week strike at General Motors, leading to increased production in the auto industry. Manufacturing and industrial output both rose following more modest activity in October.

US homebuilding rose above expectations for November at 3.2% growth or 1.365 additional units. Permits for construction, an indicator of future building, hit above a 12-year high with 1.4% growth. The housing market may be showing signs of an upward trend with rate cuts finally increasing affordability, although builders still report land and labor shortages impacting their business.

Good morning, traders. Welcome to our weekly preview of the macroeconomic data and headlines that will matter most for gold markets this week—the last full week of trading for 2019.

Happy Friday the 13^th, traders. Welcome back to our weekly recap of the data and headlines with the biggest impact on the gold and Dollar markets, both this week and as we move ahead. Gold prices are higher following a milestone week that included the final FOMC meeting of 2019 and the announcement of an initial trade agreement between the US and China.

US consumers spent less than expected coming into the start of the holiday shopping season, indicating reduced economic growth. Retail sales came in at just 0.2% growth for November compared to 0.5% expected, while October sales were revised slightly higher.

The number of Americans filing applications for unemployment benefits rose above more than a two-year high last week. The week ended December 7 saw 252,000 new claims, well above expectations. The data may have been skewed due to seasonal volatility following the Thanksgiving Day holiday.