Gold price holding 1% gains following disappointing flash U.S. PMI data

(Kitco News) - Gold prices are solidly above $1,800 an ounce but they are not seeing any new buying interest following weaker-than-expected momentum in the U.S. manufacturing and service sectors.

Monday, IHS Markit said its flash U.S. manufacturing Purchasing Managers Index for August fell to 61.2 down from July’s reading of 63.4.

The data missed expectations According to consensus forecasts economists were expecting to see a reading of 62.4.