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 Holds Momentum as December Housing Starts Hit 13-Year High
The number of new homes which began construction hit a 13-year high last month, painting the housing market in a positive light. Low mortgage rates and continued growth in hiring contributed to the housing market gains. Residential starts rose 16.9% last month, well above estimates and reaching a 3-year high.
Gold Price Ticks Downward as Falling Jobless Claims Point to Healthy Labor Market
The number of Americans applying for unemployment benefits dropped below expectations last week, indicating ongoing strength in the jobs market. Initial jobless claims fell 10,000 to 204,000 for the week ended January 11, according to a report released by the Labor Department on Thursday.
Gold Under Pressure as Philly Fed Manufacturing Index Surges to 8-Month High
The Philadelphia Federal Reserve released its manufacturing index on Thursday, gauging business activity in the region. The index shot up from 2.4 to 17 in January, punching its way to an 8-month high. Economists had predicted a virtually flat reading of just 2.8, making the index’s jump away from borderline-negative territory all the more significant.
Retail Sales See Third Straight Increase, Gold Prices Face Pressure
Retail sales in the US rose for the third month in a row last December, gaining 0.3% as expected. November figures were revised upward to 0.3%. The increase is reportedly due to an increase in household goods purchases, which offset declines in other areas.
Gold Prices Rise Despite Unexpected Growth in NY Manufacturing
The New York Fed’s release of the Empire State Manufacturing Survey shows surprisingly strong activity in the manufacturing sector for January. The report indicated general business conditions rising from 3.3 to 4.8, well above market expectations of 3.55.
Producer Price Data Points to Tame Inflation, Gold Prices Rise
Producer prices saw a slight 0.1% increase in December following no change in November according to the Labor Department, likely indicating tame inflation pressures. While the cost of goods rose, services saw price declines, keeping the overall producer price index (PPI) relatively flat and below expectations.
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