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 Prices Dip After Upbeat US GDP and Inflation Data
Q3 GDP came in at 2.1% vs. 1.9% expected during the second preliminary estimate which was released on Wednesday. Growth was partially due to gains in personal consumption expenditures (PCE).
Initial Jobless Claims Drop Back to 213,000 After Climbing Upward, Gold Price Under Pressure
The number of people who applied for unemployment benefits fell sharply last week, returning near historic lows the week before Thanksgiving and indicating ongoing strength in the labor market. Claims fell 15,000 in the week ended November 23 after hitting a 5-month high.
Durable Goods Orders Rebound on Volatile Component, Gold Price Ticks Downward
Durable goods orders rose sharply last month following a spike in demand for military aircraft, a volatile component. Durable goods orders rose 0.6% in October after dipping -1.4% the month prior. Excluding defense orders such as military aircraft, orders rose 0.1%.
Home Prices Rise in September, Gold Price Ticks Downward
Home prices rose 3.2% annually in September, accelerating from 3.1% growth the month before according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. Home prices in the 10-city composite rose 1.5%, with 2.1% growth in the 20-city composite.
US Home Sales Beat Expectations Amid 2-Year High in Price Gains
Sales of US homes rose more than expected in October at 1.9% gain vs. 1.4% expected. House prices rose at the fastest pace in two years, with lower mortgage rates and a lack of inventory contributing to demand. The median home price rose 6.2% annually to $207,900 last month.
Initial Jobless Claims May Indicate Softening Labor Market
The number of Americans filing applications for unemployment benefits unexpectedly remained at a 5-month high last week, leading to concerns of softening in the labor market. It was believed that estimating certain states due to Veteran’s Day may have impacted the results for the week before, but the latest report shows that this may not be the case.
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