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BREAKING: Gold gains as ISM disappoints

4:05 PM 3 January 2020

The ISM manufacturing PMI for December came in at 47.2 below both the prior reading of 48.1 and the consensus forecast, which called for 49.0. This marks the 5th consecutive month in contractionary territory for this metric and the 8th time in 9 months that it has come in below forecasts. 

 

In terms of market reaction, USD has fallen along with US indices while Gold has returned back near its highest level of the day.


Gold has moved higher since the release with the precious metal trading less than $10 from its 2019 peak. Source: xStation   

 

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