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Spot gold bumps up against $4,100/oz after ISM Manufacturing PMI falls to 53.3
Gold is trading on the edge of $4,100 and not far from session highs after the latest data showed the U.S. manufacturing sector performing below expectations last month, while prices continued their recent moderation. The Institute for Supply Management (ISM) announced on Wednesday that its Manufacturing Purchasing Managers Index fell to 53.3 in June, after posting a reading of 54 in May, its highest reading since May of 2022. The headline number was lower than expected, as consensus forecasts looked for a hold at 54. “In June, U.S. manufacturing activity remained in expansion territory, growing at a slightly ... (full story)
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Economic activity in the manufacturing sector expanded in June for the sixth consecutive month, say the nation's supply executives in the latest ISM® Manufacturing PMI® Report. The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The Manufacturing PMI® registered ...
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The performance of the US manufacturing economy improved again in June, though the pace of growth eased to a three-month low. Both output and new orders rose at slower, but still historically elevated, rates. Growth was commonly linked to new product launches, alongside some reports of pre-orders placed to protect against rising prices. Higher raw material ...
