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Gold Price Recap: February 24 - February 28
Happy Friday, traders. Welcome to our weekly market wrap and look at the gold markets. We are once again ending a week that has been dominated by the markets’ (suddenly strong…
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…
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…
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…
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…
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…
Gold Price Holds Support Above $1,650 as Richmond Fed Manufacturing Dips in February
The Richmond Fed manufacturing index saw a major drop in February, diving from 20 points to -2 vs. 10 points expected. The reading comes after January unexpectedly rose from -5…
Gold Price Preview: February 24 - February 28
Good morning, traders. Welcome to our preview of the economic calendar this week, with a focus on the data and news stories that could have the greatest impact on gold, the US…
Gold Price Recap: February 17 - February 21
Happy Friday, traders. Welcome to our weekly market wrap, with a focus on the economic data and market narratives that mattered the most for gold, the Dollar, and related…
Gold Posts Major Gains as US Manufacturing Fails to Reach Expectations for February
The IHS Markit’s manufacturing PMI fell to 50.8 vs. 51.9 in January, failing to reach the 51.5 reading forecast by the market. The services and composite PMIs fell below 50 to…
Gold Price Holds Above $1,600 as Initial Jobless Claims See Slight Increase
Initial claims for state unemployment benefits rose from 206,000 to 210,000 for the week ended February 15, according to the Labor Department. Data for the previous week was…
Philadelphia Manufacturing Index Punches Above Three Year High, Gold Holds Gains
The Philadelphia Federal Reserve manufacturing index rose 20 points to 36.7 during February, beating the expected reading of just 10 points. The index measures business…
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