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 Eyes $1,600 Despite 9-Month High in Empire State Manufacturing Index
The New York Federal Reserve’s manufacturing index rose 8.1 points to 12.9 in February, according to a report released on Tuesday. The index is now at the highest level since May, vastly outperforming the expected reading of 4.0. The index is a measure of business conditions in the region, and those conditions also ticked up in January following months of deceleration.
Clothing Store Sales Hit 2009 Low as Consumer Spending Rises Moderately
Sales at clothing stores hit the lowest point in 11 years in January, while consumer spending overall ticked upward. Retail sales climbed 0.3% last month as expected, according to the Commerce Department report released on Friday.
Gold Price Holds Gains on Virus Scare as Consumer Inflation Rises Slightly
Consumer inflation rose slightly in January, driven by increases in the cost of rent and clothing. The consumer price index rose 0.2% following a 0.1% gain the month before, according to the Labor Department. The data indicates that inflation is on a slow course to meet the Fed’s target range of inflation of 2%.
Initial Jobless Claims Rise Below Expectations, Gold Price Holds Gains
The number of Americans who applied for unemployment benefits last week rose slightly from 203,000 to 205,000 vs. 210,000 expected. Claims remain relatively low, with no indication of major layoffs in the labor market, according to the latest data from the Labor Department.
Jobs Report beats expectations, Unemployment rises
The labor market remained in good health throughout the first month of 2020 with 225,000 new jobs added vs. expectations of just 164,000. Average hourly earnings rose, as did the rate of unemployment, although this remains near historic lows.
ISM Non-Manufacturing Index Rises in January, Gold Price Ticks Upward
The services sector saw increased activity in January, pointing to ongoing moderate economic growth. Growth in services was led by increases in new orders, according to the Institute for Supply Management (ISM), with the ISM non-manufacturing index coming in at 55.5.
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