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.
Jobless Claims Less Than Expected After 2-Year High, Gold Prices Rise
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.
November Industrial Production Rebounds, Gold Prices Hold Firm
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.
Homebuilding Beats Expectations in November, Permits Hit 12-Year High
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.
Big Miss on Retail Sales Indicates Growth Slowdown, Gold Price Rises
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.
Gold Price Flat Despite 2-Year High in Jobless Claims Following Trump Tweet
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.
Gold Price Rises as Producer Prices Go Unchanged in November With Unexpectedly Tame Inflation
November saw no change in producer price inflation with reduced costs for services offsetting gains in other areas like gasoline and food. While consumer prices rose in November, producer price inflation was unexpectedly soft. Prices saw no growth following a 0.4% gain the month before.
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