Gold Price Recap: March 18 - 22
Happy Friday traders, unless you’re only reading this after coming out of the cave of NCAA Tournament first-round games. In which case, happy…Monday?
Price of Gold Trims Gains as Existing Home Sales Jump Well Above Expectations
Existing home sales in the US jumped 11.8% in February according to the National Association of Realtors (NAR), the highest since March 2018.
Price of Gold Maintains Gains as Philadelphia Fed Business Index Rebounds Above Expectations
The price of gold has continued to rise following a report indicating stronger-than-expected activity in the US business sector.
Price of Gold Holds Strong Gains as Initial Jobless Claims Drop Below Expectations
The number of Americans filing applications for unemployment benefits dropped unexpectedly last week, signaling ongoing strength in the labor market. Jobless claims came in at 221,000 vs 225,000 expected.
Gold Prices Rise Above $1310/oz as the Fed Removes a 2019 Rate Hike From Their Projections
Gold price is up nearly $10 from Tuesday evening’s market open and close to $15 higher than the intraday lows, as Chairman Jerome Powell and the Federal Reserve delivered another stringently dovish set of updated economic projections following the March FOMC meeting.
Two Sides to the Price of Gold and the Tariff War
The ongoing trade war between the U.S. and China has been the topic of significant debate over the last several months. The spat has shown it has the potential to move markets, and in recent weeks flashes of optimism have been met with disappointment.
Fed Preview: Forward Guidance in Focus
In January the Federal Reserve took a dovish outlook when they signaled for a pause in rate hikes. Since January’s meeting we have seen a mix between positive and negative economic data. Given the mixed data analyst expect that the Fed will be cautious moving forward. The fed is expected to revise its dot plot for 2019 from 1 to 2 hikes down to 1 hike, during the March meeting.
Homebuilder Sentiment Remains Flat in March, Below Expectations
The National Association of Home Builders/Wells Fargo Housing Market Index points to a flat reading for homebuilder sentiment from February through March. The index came in at 62 vs 63 expected, although 62 is still a six-month high after a turbulent period in housing.
Gold Price Preview: March 18 - 22
Gold markets have kicked the week off with some healthy trading in the Sunday/overnight sessions, offering yellow metal at $1306/oz. After a mild sell-off at the Sunday evening open, gold looked likely to stay pinned around the $1299.50-level through the Asian session until strong buying stepped-in during the start of trading in London, re-breaking into $1300 and setting gold prices where we see them now.
Gold Price Recap: March 11 - 15
We end the week in gold markets in a stronger price environment than we began with on Monday, setting the stage for prices to make another move towards $1350/oz next week, should the FOMC meeting provide the right kind of push.
Consumer Sentiment Rises Unexpectedly in March, Price of Gold Holds Gains
US Consumer confidence has reportedly rebounded in March according to the latest survey by the University of Michigan released on Friday. After a two-year low seen at the beginning of the year due to the government shutdown and other factors, sentiment has risen to 97.8 vs 95.3 expected.
Gold Price Breaks $1,300 With Big Miss in Empire State Manufacturing Index
A key index used to measure business conditions in New York fell to 3.7 in March, the lowest in almost two years. After months of decline, there was an uptick in February which saw a reading of 8.8, but the uptrend has not continued for the final month of Q1.
has been the number 1 site for live gold and silver price charts in every national currency in the world.
Gold Price Chart
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.
Follow Benjamin on LinkedIn.
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.
Follow Conor at @iWriteCrypto on Twitter.
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.
