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   

 

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits