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Gold price at $4,158/oz after ISM Manufacturing PMI dips to 54.5, prices shoot higher - kitco.com

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DW NOTE

The ISM manufacturing index rose from 49.3 in August to 54.5 — the first expansion reading in months — yet gold is above $4,100. Manufacturing recoveries used to kill safe-haven demand. Now they coincide with it, because the Fed is hiking into a supply shock it cannot solve and the Hormuz closure has decoupled energy costs from monetary policy entirely.

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The United States has not pressured India to cut crude oil imports from Russia, Indian Oil Minister Hardeep Singh Puri said on Tuesday, as Russian cargo arrivals to the world’s third-largest crude oil importer have declined in recent weeks amid an increase in imports from the Middle East. India’s pu

Gold price at $4,158/oz after ISM Manufacturing PMI dips to 54.5, prices shoot higher - kitco.com

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