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Gold prices push closer to $1,800 as ISM shows drop in momentum in U.S. manufacturing sector

From kitco.com

Gold prices are holding steady gains and pushing closer to $1,800 an ounce even as momentum in the manufacturing sector slows down slightly, according to the latest data from the Institute for Supply Management (ISM). Monday, the ISM said its manufacturing index showed a reading of 60.7% for April, down from March’s reading of 64.7%. The data missed expectations as consensus forecasts were calling for a reading around 65.0%. ““The manufacturing economy continued expansion in April. Survey Committee Members reported that their companies and suppliers continue to struggle to meet increasing rates of demand due to ... (full story)

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  • Category: Fundamental Analysis