Today, the seventh survey of 2012 for the Philly Fed Manufacturing Index for July was published: this survey estimates the U.S. manufacturing conditions have slightly improved by are still deteriorating; the Philly Fed index rose from -16.6 in June to -12.9 in July. Indexes of prices also slightly increased that may suggest the price pressures have stabilized. Currently, the American stock markets are traded up. Gold and silver prices are rising.
If this indicator provides a good estimate of the economic progress of the U.S, it may suggest an ongoing slowdown in the manufacturing progress of the U.S. But this also means there was a slight improvement during July compared with the manufacturing conditions during June 2012. This survey also estimates the general employment conditions have deteriorated.
This report shows a mixed signal to the developments in the U.S economy. The slight improvement in the index may prevail in today’s trading.
Today’s report might positively affect not only American stock markets, energy prices including natural gas and crude oil but also gold and silver.
Currently the major American stock market indexes including the S&P500 and Dow are slightly rising; major energy commodities prices such as crude oil prices are also increasing; precious metals prices are rising.
Current gold price, short term futures (August 2012 delivery) is traded at $1,585.5 per t oz. a $14.7 increase as of 16:01*.
Current silver price, short term futures (August 2012 delivery) is traded at $27.335 per t oz. a $0.24 increase as of 15:48*.
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