Consumer Spending and Incomes Fall Short of Expectations, Inflation Muted
US consumer spending missed forecasts in January, rising less than expected after the dip in December. Spending ticked upward by 0.1% in January, while February data for personal incomes showed an increase of 0.2%. Inflation also came in below expectations.
Gold Sinks Below $1,300 With Initial Jobless Claims Lower Than Expected
Applications for unemployment benefits in the US for the week ending March 23 dropped from a revised 216,000 last week to 211,000 vs 220,000 expected.
Gold Price Ticks Downward With Unexpected Drop in US Trade Deficit for January
The US trade deficit fell more than expected, dipping from -$59.8 billion to -$51.15 billion vs just -$57.5 billion expected. The 16.6% drop in the deficit is the sharpest drop since March 2018.
Home Prices See Slowest Growth in Almost Four Years
The S&P CoreLogic Case-Shiller 20-city index declined and saw the slowest pace of annual growth in January since 2012. Home prices rose 4.3% nationwide.
Gold Prices Drop Despite 8-Month Low in Housing Starts
After a major comeback in January, homebuilding has taken yet another hit as February data shows an 8.7% decrease in housing starts. However, the outlook is not inherently bleak due to the continuing drop in mortgage interest rates.
Price of Gold Trims Gains as Existing Home Sales Jump Well Above Expectations
Existing home sales in the US jumped 11.8% in February according to the National Association of Realtors (NAR), the highest since March 2018.
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