Gold price holding above $1,800 following mixed flash PMI data

  • 10/12/2021
  • Source: Kitco
  • by: Neils Christensen
Gold price holding above $1,800 following mixed flash PMI data
(Kitco News) - The gold market is holding on to gains above $1,800 an ounce following mixed data on the health of the U.S. manufacturing and service sectors.

Friday, IHS Markit said its flash U.S. manufacturing Purchasing Managers Index for October fell to 59.2, down from September's reading of 60.7. The data was weaker than expected as economists forecasted relatively stable activity in the manufacturing sector. The report noted that activity in the manufacturing sector is at a seven-month low.

Meanwhile, momentum in the service sector appears to be picking up. The report said that the Flash PMI for the service sector rose to 58.2, up from September's reading of 54.9. Economists were expecting to see a reading of around 55.


Element 29 Resources boasts two flagship projects with enormous porphyry copper potential, in a market where copper demand is seen doubling with record supply deficits leading to higher copper prices.


Analysis and insights into the newest trends and industries shaping the world and your wealth.

The world is more dynamic than at any time in History.
New Markets are opening up. Technology is accelerating. It’s changing everything.

And creating fortunes in the process.

Dynamic Wealth Research exposes the biggest and most profitable changes for our readers.
© 2016 - 2024 DYNAMIC WEALTH RESEARCH, Privacy Policy, Disclaimer