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Gold drops to session lows as combined flash PMI data hits 26-month high
The gold market is holding support above $2,350 an ounce but is seeing some renewed selling pressure as both the U.S. manufacturing and service sectors see healthy activity in June. Friday, S&P Global said its preliminary Purchasing Managers Index for the manufacturing sector rose to 51.7, from May’s reading of 51.3. Activity in the manufacturing sector was better than expected, as economists forecasted a relatively neutral reading at 51.0. The report said that activity in the manufacturing sector has risen to a three-month high. However, the report noted an even more significant recovery within the service ... (full story)
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- Posted: Jun 21, 2024 1:22pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 311
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