Gold price at $4,158/oz after ISM Manufacturing PMI dips to 54.5, prices shoot higher
Gold is trading not far from session lows after the latest data showed the U.S. manufacturing sector as a whole performing below expectations last month, while prices shot dramatically higher in September.The Institute for Supply Management (ISM) announced on Thursday that its Manufacturing Purchasing Managers Index fell to 54.5 in September, after posting a reading of 54.6 in August. The headline number was lower than expected, as consensus forecasts looked for a reading of 55.
Gold Price Forecast – Gold Continues to Drift Back and Forth
Gold markets continue to move back and forth overall, as we are trying to sort out where we are going next with interest rates.
Gold price holding steady despite potential headwinds from a solid US labor market
The gold market is holding its ground even as it faces further headwinds from a relatively healthy labor market, with the number of American workers applying for first-time unemployment benefits remaining below a key level for the third consecutive month.Initial claims for state unemployment benefits came in at a seasonally adjusted 297,000 for the week ending September 26, the Labor Department announced Thursday. The number was slightly better than expectations.
Gold Edges Higher; Prices Could Remain Under Pressure Near Term
Gold edged higher. The price action is “not so convincing,” with sentiment remaining sluggish and prices struggling to sustain gains, OCBC said.
Metals fade as long yields offset cooler inflation, lower Fed odds - Kitco PM Report
Spot gold prices were modestly lower and spot silver prices were weaker in late U.S. trading Wednesday, as cooler U.S. inflation data lowered October Fed hike expectations but failed to stop another rise in long-dated Treasury yields.
Gold price could have a ‘shinier Q4' despite 20-year highs in bond yields - FOREX.com's Razaqzada
After a solid recovery in August, the gold market is ending the third quarter on a disappointing note as a sharp rise in bond yields takes its toll on the non-yielding asset.
Gold is supposed to be a safe haven when inflation surges. So why isn't it working that way now?
Every investor knows the drill: When markets buckle, buy gold. But in September, that playbook hasn't worked as expected.
Gold rises as softer PCE cools October Fed hike odds - Kitco AM Report
Spot gold prices were firmer and spot silver prices were modestly lower in early U.S. trading Wednesday, as softer U.S. inflation data eased immediate Fed tightening pressure while elevated Treasury yields and a still-firm dollar kept the rebound contained.
‘I'm afraid of human stupidity.' Why this top economist prefers U.S. tech and gold over bonds.
A prominent economist doesn't fear artificial intelligence, but fully embraces it in portfolios. He feels far differently about government debt.
Gold Steady; Markets Await U.S. Economic Data
Gold was steady in early Asian trade. The selloff seen on Monday was stabilizing as oil and U.S. treasury yields eased, and Fed hike expectations moderated, OCBC Group said.
Gold Price Forecast: Support Breakdown Deepens Bearish Pressure
Gold's support breakdown strengthens the bearish correction, with $4,111 now critical and rallies likely to face resistance.
Gold, silver rebound as soft data cools October Fed hike bets - Kitco PM Report
Spot gold prices were firmer and spot silver prices were also higher in late U.S. trading Tuesday, as softer U.S. labor-market and consumer-confidence data helped bullion recover from Monday's selloff, even as long-dated Treasury yields remained near multi-decade highs. At the time of writing, spot gold was trading near $4,172.40 an ounce, up 1.42% on the session, while spot silver was trading near $61.270, up 1.23%.
