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US Labor Market Collapses With 701,000 Jobs Cut in March and Q2 Unemployment Forecast at 10 - 16%, Gold Prices
US employers cut 701,000 jobs in the first two weeks March vs. just 10,000 expected, pushing the rate of unemployment from 3.5% to 4.4%. This data does not include almost 10…
Labor in Crisis: Gold Rises With a Record 6.65 Million Jobless Claims and a Staggering 12.5% Unemployment Rate Forecast in 2020
The US has seen record layoffs for the second week in a row, with initial jobless claims more than double those of the previous week as well as double all expectations. The…
Gold Price Ticks Upward With Broad Contraction Throughout Manufacturing PMI
Economic activity in manufacturing contracted in March, slipping from 50.1% in February to 49.1% according to the latest report from the Institute for Supply Management (ISM).…
Gold Price Steady on Report of 27,000 Jobs Cut Before Coronavirus Shutdown Escalated in March
Private companies terminated 27,000 positions for the period through March 12, before the worst impact of the coronavirus outbreak was felt, according to the latest data from…
Chicago PMI Beats Expectations but Contracts Further in March, Gold Price Ticks Downward
Business conditions in Chicago worsened this month according to the latest PMI reading, which came in at 47.8 in March vs. 49 in February. Any reading below 50 indicates…
Gold Price Slips Near $1,600, January Home Prices Rose Before Coronavirus Outbreak
Home prices rose 3.9% in January vs. 3.7% the month before, according to the S&P CoreLogic Case-Shiller Indices. The 10-city composite index rose 2.6% vs. 2.3% in December…
Gold Price Preview: March 30 - April 3
Hello traders, welcome to our preview of the week ahead, with a focus on the economic data and market narratives that are likely to have the most meaningful impact on gold…
Gold Price Recap: March 23 - March 27
Happy Friday, traders. Welcome to our weekly market wrap, focused on the news, narratives, and economic data that had the biggest impact on gold prices, the Dollar, and other…
Personal Income and PCE Rose Slightly Above Expectations in February, Gold Prices Slip
Personal income rose 0.6% to $106.8 billion in February according to the latest report released by the Bureau of Economic Analysis (BEA) on Friday. Disposable personal income…
In-Line Q4 GDP Figures Ignored in Market Turmoil, Gold Prices Above $1,600
Real GDP expanded 2.1% annually as expected, according to the latest report released by the US Bureau of Economic Analysis (BEA) on Thursday. This marks the third such estimate…
Durable Goods Orders Rose in February, but Gold Prices Plunge Toward $1,600 With Virus Impact Incoming
Durable goods orders rose 1.2% in February to $2.9 billion from 2.49 billion, outperforming the expected decline of -0.8%. January figures were revised higher from -0.2% to -0.…
Do the Numbers Reflect the Reality? Richmond Fed Manufacturing Rises 4 Points in March, Gold Surges Higher
The Richmond Fed manufacturing PMI rose from -2 to 2 in March, seeing low volatility despite the coronavirus impact on global supply chains. Shipments and new orders saw…
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