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Gold Price Preview: July 1 - July 5
Welcome back to the markets on a Monday, traders. Our charts look very different this morning than they did last week, so let’s jump right in. At time of writing, gold prices are $15 lower on the day, having rebounded slightly from lows as deep as $1383 in the overnight session.
Gold Price Recap: June 24 - June 28
An energetic week for gold trading to be sure, despite the (relative) de-escalation-by-omission of US tension with Iran, and the sense that the markets at large were playing wait-and-see ahead of this weekend’s G-20 meeting in Japan.
Tame Inflation Pressures May Prompt Rate Cuts, Gold Price Holds Firm
Consumer prices measured by the personal consumption expenditures (PCE) price index rose 0.2% in May. The core-PCE index, a key metric used by the Federal Reserve to gauge inflation pressure, rose by 1.5% annually, down from April’s 1.6% rise.
US Consumer Spending and Income Rise Moderately in May
Consumer spending in the US, which accounts for two thirds of the economy, rose by 0.4% with increased spending on motor vehicles, eating at restaurants, and hotel accommodation. Income rose by 0.5%.
Initial Jobless Claims Rise Above Expectations, Price of Gold Drops
The number of Americans filing for unemployment benefits rose more than expected last week with 227,000 applications for the week ended June 22, according to the Labor Department.
Q1 GDP Revised Downward, Gold Prices Drop
Economic growth in the US economy during the first three months of the year was revised slightly downward in the government’s final GDP reading which was released on Thursday morning.
Durable Goods Orders Drop Below Expectations, Gold Price Ticks Downward
US durable goods orders dipped in May for the third time in four months, pulled down by a canceled order for the controversial Boeing 737 which was involved in multiple fatal crashes.
Home Sales Drop Unexpectedly for Second Month in a Row, Gold Price Rises
Sales of US single-family homes have dropped for a second straight month, defying market expectations of an increase. Lower mortgage rates introduced earlier in the year may be failing to stimulate the embattled housing market.
Flat Richmond Manufacturing Result in Troubled Sector
The Richmond Fed Manufacturing Index came in at 3 vs. 4 expected. The report follows other signs of weakness in the manufacturing industry with the Philly Fed Index nearing zero.
US Home Prices Rise In April
Home prices saw a 3.5% annual increase in April according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The March index showed a 3.7% gain compared to March 2018.
Gold Price Preview: June 24 - June 28
Hello traders, welcome back to another week in the metals markets. After closing just below the big-time (that’s a technical term) psychological level of $1400/oz to close last week, gold spot prices have seen further gains since the start of Asian trading Sunday evening and now trade at $1410 and not far off of last week’s 6-year high.
Gold Price Recap: June 17 - June 21
Happy Friday, traders! Welcome to your recap of the week in gold markets. Gold prices are markedly higher this afternoon following an explosive week of trading, driven by the Fed’s extremely dovish June meeting and the escalation of tensions around the Persian Gulf.
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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.
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.
