Initial Jobless Claims Rise Above Expectations, Price of Gold Ticks Downward
The number of Americans applying for unemployment benefits for the week ended August 10 rose by 9,000 according to the latest report from the Labor Department. Initial jobless claims are now at the highest level since June.
CPI Inflation Data Remains Steady in July, Gold Prices Rise
The consumer price index rose 0.3% in July according to a government report released on Tuesday, with price increases in categories like gasoline and rent. The gain is in line with market expectations. The cost of living rose marginally from 1.6% to 1.8%.
Producer Prices in July Indicate Flat Wholesale Inflation, Gold Price Ticks Downward
The Producer Price Index rose 0.2% in July on a monthly basis compared to 0.1% the month prior, with no rise in the flat annual reading of 1.7%. The monthly reading is in line with market expectations.
Initial Jobless Claims Come in Below Expectations, Gold Prices Fall
US initial jobless claims for the week ended August 03 came in at 209,000 vs. 215,000 expected, with figures for the prior week revised from 215,000 to 217,000. Continuing claims also saw a slight reduction.
Chicago Fed’s Charles Evans Hints at Further Rate Cuts, Gold Prices Rise
Charles Evans of the Chicago Federal Reserve made statements on Wednesday morning to comment on the Fed’s monetary policy on interest rates, as well as the current state of the economy. Evans took a dovish approach, signaling that more rate cuts may be on the horizon.
Employment Hits Record High in July, Gold Price Ticks Upward
The US labor force reached a total of 163.4 million in July, a record high, after adding 164,000 jobs. Jobs growth was actually below expectations of 165,000 - 170,000, although the data still points to a robust labor market.
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