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.
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, and the 20-city composite index rose 3.1% in January compared to 2.8% the month before.
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 rose 0.5% and personal consumption expenditures (PCE) rose 0.2%. The data was gathered in a period directly preceding the severe escalation of the coronavirus outbreak throughout the United States.
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 of Q4 GDP.
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 -0.1%, according to the latest report from the US Census Bureau released on Wednesday.
Key Takeaways
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 increases in March, while employment ticked downward.
Gold Surges Past $1,600 as Composite PMI Hits 11-Year Low
The US Markit manufacturing PMI dropped from 50.7 to 49.2 in March, beating expectations of 42.8. Meanwhile, the Markit services PMI underwhelmed, falling from 49.2 to 39.1 vs. 42.8 expected.
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