GoldPrice

Happy Friday, traders. With markets turning their gaze towards (probably) another “adjustment” to short-term interest rates next week, gold prices have shrugged off a low-energy week to regain an important price level despite some strong selling this morning.

Sales of new single-family homes fell -0.7% in September with shortages of affordable homes still pressuring the market. Low inventory and affordability are persist problems despite a drop in prices representing the largest monthly decrease in 5 years.

Thursday’s report from the Labor Department indicates ongoing strength in the labor market, with applications for initial jobless claims falling unexpectedly. While hiring has slowed considerably, layoffs remain low in a tight labor market. Initial jobless claims dropped to 212,000 for the week ended October 19, below expectations of 215,000.

New orders for durable goods, designed to last more than three years, fell -1.1% in September, indicating softening business investment. This represents a big miss in orders which were forecast at a -0.2% drop. Thursday’s report from the Commerce Department indicates an ongoing trend in business spending, with the decline is likely a result of the ongoing trade war between China and the United States.

Sales of existing homes in the US dropped more than expected in September as the market continues to show signs of weakness in Q4. Land and labor shortages continue to hinder progress, with cheaper homes in particular remaining in high demand. Sales fell -2.2% vs. Just -0.7% expected.

The Richmond Manufacturing Index beat market expectations for October with a rebound from -9 to 8, vastly surpassing market expectations of a drop to -14. Back in positive territory, the latest report is a positive indicator for the struggling manufacturing industry which has suffered under the escalating tariffs of the trade war.

Good morning, traders! Welcome back to our weekly look at the macroeconomic calendar interesting us as metals traders over the next five trading days. Gold and silver prices are lower this morning, with the yellow metal’s spot value sliding back to $1485/oz while silver manages to trade above support at $17.55 despite its weakness.

Happy Friday, traders! Welcome to our weekly recap of the action and drivers in the precious metals and Dollar markets.

Gold prices have seen modest upward movement today in the face of mixed data from different sectors of the US economy today which led to a slump in the US dollar. US homebuilding saw a major drop, hindering hopes that the housing sector was seeing a comeback. Manufacturing data came in below expectations, industrial production saw a steep decline, and jobless claims saw a modest increase in line with market expectations.

Good morning, traders. Welcome to your weekly look at the upcoming macroeconomic calendar, with a specific focus on the events that are most important for the precious metals and US Dollar charts.

Happy Friday, traders. Welcome to our weekly look back at the last five trading days in precious metals and US Dollar markets. At the time of writing this afternoon, gold is down considerably for the week at the end of Friday’s trading despite having rebounded slightly from the weekly and daily lows.

The University of Michigan Consumer Sentiment Index, released on Friday, came in at 92 for September, recovering from the three-year low of 89.8 seen in August. The reading is still the third-worst result of Donald Trump’s presidency.