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.
Unexpectedly Slow Growth in Services Could Spell Recession, Gold Prices Rise
The service sector grew at a slower rate than expected in September according to the ISM Non-Manufacturing Index which was released on Thursday. The index came in at a reading of 52.6 compared to 55.3 expected by economists surveyed by the Dow Jones. The reading was the lowest pace of growth since August 2016, resulting in a stock market selloff and an uptick in the price of gold.
Jobless Claims Rise Moderately, Gold Prices Hold Firm
Last week saw a moderate increase in the number of Americans applying for unemployment benefits. Initial jobless claims rose 3,000 to 213,000 during the week ended September 21 according to a report released on Thursday by the Labor Department. Figures for the prior week were revised upward by 2,000, and overall, the data is still in line with a healthy labor market.
Private Sector Employment Drops in September, Gold Prices Rise
Private payrolls increased by 135,000 jobs vs. 157,000 in August and 125,000 expected in September according to a report released by ADP and Moody Analytics on Wednesday. The monthly average for 2019 so far is 145,000, down from 214,000 in 2018, indicating a significant hiring slowdown.
Recessionary Risks Mount as ISM Manufacturing Index Hits 10-Year Low, Gold Price Rises
The ISM US manufacturing Purchasing Manager’s Index sunk to the lowest point since June 2009 according to a report released on Tuesday. The index came in at 47.8, marking the second month of contraction in a row.
Growth in Durable Goods Orders Drops Unexpectedly in August, Gold Prices Sink
Durable goods orders in the US fell unexpectedly in August, although shipments saw a modest increase. Orders for goods meant to last three years or more rose 0.2% after a major increase of 0.2% the month before, indicating weaker business investment.
Consumer Spending Slows in August and Inflation at 1.8%, Gold Prices Tick Downward
US consumer spending saw almost flat activity in August, an indicator that the driving force behind the US economy is slowing down following strong growth in Q2 2019. Core-PCE, the preferred measure of inflation, came in at 1.8% as expected. A report released by the Commerce Department on Friday shows just 0.1% growth in personal spending last month vs. 0.3% expected.
has been the number 1 site for live gold and silver price charts in every national currency in the world.