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.
US Core Inflation Punches Through Yearly High, Gold Holds Above $1,400
The core-consumer prices index saw the biggest gain since January 2018 in June with 2.1% gain vs. 2% expected. The data indicates rising inflation pressures, although the Federal Reserve is still considered likely to implement rate cuts this month.
Strong Jobs Report May Offset Rate Cuts, Gold Prices Fall
Nonfarm payrolls rose 224,000 in June, easily surpassing the market expectations of 165,000 according to a report released by the Labor Department on Friday.
Gold Prices Rise Despite Dip in Initial Jobless Claims
The number of Americans applying for unemployment benefits for the week ended June 29 dipped modestly from 227,000 to 221,000. This is slightly above the market expectation of 220,000, but the data indicates that layoffs are relatively low.
Gold Price Spikes Following Big Miss in Employment
The latest ADP employment report released on Wednesday revealed that the private sector added 102,000 jobs compared to 140,000 expected. The previous month’s figures were revised upwards from 27,000 to 41,000.
Tame Inflation Pressures May Prompt Rate Cuts, Gold Price Holds Firm
Consumer prices measured by the personal consumption expenditures (PCE) price index rose 0.2% in May. The core-PCE index, a key metric used by the Federal Reserve to gauge inflation pressure, rose by 1.5% annually, down from April’s 1.6% rise.
US Consumer Spending and Income Rise Moderately in May
Consumer spending in the US, which accounts for two thirds of the economy, rose by 0.4% with increased spending on motor vehicles, eating at restaurants, and hotel accommodation. Income rose by 0.5%.
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