Gold Prices Hold Above $1,804: Gold Price advanced and the dollar pushed lower after a report showed companies in the U.S. unexpectedly shed jobs last month.
Global Economic
India Can’t Afford to Go on a Debt Binge
India’s economy has suffered more than most from the pandemic and so have its people. The country has lost more than a year’s worth of growth and perhaps a decade’s progress in its efforts to reduce poverty. The economic contraction — the first in India since the 1970s — has put pressure on its government like so many others to respond.
Asian Markets Rise ahead of Fed Meeting – Gold Silver Reports
Fed Chairman Jerome Powell is scheduled to speak Wednesday after the Fed ends its two-day meeting.
Beijing Pays the Price for the Slow Pace of Economic Reform
As the world’s largest nations send out helicopter money amounting to well more than 10% of their gross domestic product to fight the economic effects of the coronavirus pandemic, China, which just suffered its first economic contraction in two decades, is conspicuous for its stinginess.
2019: The year the Federal Reserve admitted it was wrong
The Federal Reserve and its leaders have done something unusual in 2019 for central bankers. They admitted they were wrong in their short-term and long-term outlook for the U.S. economy.
Gold Prices Blast – PMI Data @ 47.8%; September Manufacturing ISM
The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: “The September PMI® registered 47.8 percent, a decrease of 1.3 percentage points from the August reading of 49.1 percent. The New Orders Index registered 47.3 percent, an increase of 0.1 percentage point from the August reading of 47.2 percent.
Gold Boom Higher on Lackluster Non-Farm Payrolls Data – Gold Silver Reports
The increase in new jobs for July was downwardly revised to 159,000 from 164,000 and June’s figure was cut to 178,000 from 193,000. Average hourly earnings was a bright spot, rising by 0.4% in August and 3.2% over the year, beating expectations. The market reacted to the jobs data with a sharp rally in gold and the US dollar weakening against its major counterparts.