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Gold prices falling below $1,930 following increase in U.S. flash PMI

From kitco.com

The gold market continues to see some technical selling pressure as better-than-expected data economic data is prompting some investors to take profits at fresh nine-month highs. Tuesday, the S&P Global Flash US Composite PMI reported better-than-expected activity for the manufacturing service sectors, even as both indexes remain in deep contraction territory. The report said that the manufacturing PMI data rose to 46.8, up from December's reading of 46.2. The data beat expectations; according to consensus estimates, economists were looking for a reading of around 46. Meanwhile, activity in the service sector ... (full story)

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  • Category: Fundamental Analysis