Gold prices remain stuck near $4,000 as ISM Manufacturing PMI hit four-year high - kitco.com
Gold prices remain stuck near $4,000 as ISM Manufacturing PMI hit four-year high - kitco.com
Source: kitco.com
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DW NOTE
The ISM manufacturing index hitting a four-year high while gold sits near $4,000 is the story — gold down 23% from its January peak of $5,318 while US industrial activity expands. Manufacturing strength typically coincides with risk appetite and dollar demand, both gold headwinds. The puzzle is why gold hasn't fallen further given the 100-basis-point surge in long-term yields over the past month.