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.
Soft Fundamentals Behind Unexpected Rise in Manufacturing Index, Gold Price Dips
The Philadelphia Fed manufacturing index rose in November to 10.4, almost double the reading measured in October of 5.6. While the headline result beat market expectations of just 7.0, many key components of the index actually fell last month.
Building Permits at 12-Year High, Gold Price Ticks Upward
US housing starts saw moderate growth in October and permits for future construction soared above a 12-year high, indicated renewed strength in the housing market amid lower mortgage rates. Housing starts rose 3.8% to 1.314 million units in October, above market projections.
Retail Sales Rise Above Expectations, Gold Price Ticks Upward
The Commerce Department announced on Friday that retail sales increased 0.3% in October vs. 0.2% expected, driven by increases in vehicle purchases and gasoline prices. The 0.3% gain is in contrast the -0.3% drop seen the month prior, the first decline in seven months.
US Jobless Claims Jump to 5-Month High, Gold Prices Climb
The number of Americans filing applications for unemployment benefits rose to a five-month high last week. However, multiple states were estimated due to the Veteran’s Day holiday on Monday, which may have skewed the results.
Producer Prices Rise but Inflation Remains Low, Gold Price Ticks Upward
The cost of US goods and services rose at the fastest pace in six months in October, driven by a steep increase in gas prices. The producer price index (PPI) rose 0.4% last month, above market expectations of 0.3%.
Gold Price Rises as Fed Chairman Forecasts Moderate Growth but Low Inflation
Fed Chairman Jerome Powell issued statements earlier today at the Joint Economic Committee, commenting on the health of the economy and the proposed monetary policy for the near future. Powell stated that low inflation pressure and overseas weakness remain a concern, while the US economy is still on course for moderate growth.
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