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.
Surprise Rate Cut Supports Gold Despite Stronger Private Sector Payrolls in February
Private payrolls rose above expectations in February, according to the latest ADP National Employment Report. Payrolls increased by 183,000 last month vs. 209,000 in January, revised down from 291,000. February payrolls added 13,000 more jobs than expected.
Gold Prices Tumble as Chicago PMI Shows Improved Conditions
A measure of business conditions published on Friday indicates that business conditions have improved from 42.9 to 49 in February. While the measure has increased, any reading below 50 indicates contraction, and the Chicago PMI has now contracted for six months in a row.
Gold Posts Losses as Personal Income and Inflation Rise in January
Household income in the US rose 0.6% in January, the largest increase in 11 months, while spending rose 0.2%, according to the Commerce Department’s report on Friday. Meanwhile, the Federal Reserve’s preferred metric for gauging inflation rose 1.6% in the 12 months through January, falling short of the Fed’s target range of 2%.
Durable Goods Orders Dip 0.2% in January, Gold Price Holds Gains
Orders for durable goods in US factories dipped in January following strong growth the month before. According to the Commerce Department, January orders drawn lower by reduced demand for cars, auto parts, and military aircraft.
Gold Price Rises as US Jobless Claims Above Expectations
The number of Americans filing for unemployment benefits increased more than expected last week. Claims rose to 219,000 for the week ended February 22 according to the Labor Department, above expectations of 212,000. The figures are still in line with those of a healthy labor market.
US GDP Grew 2.1% in Q4, Global GDP on Track For Worst Year Since Recession
The US economy grew moderately in Q4 2019, with the government confirming a reading of 2.1% annualized growth from October to December. The reading matched an earlier estimate, bringing total GDP for 2019 to 2.3%, missing the Trump administration’s target of 3%.
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