Mixed Economic Outlook: Gold Drops, US Services Sector Slows, India's Services Sector Grows
TL;DR
Gold prices remain near session lows as the Institute for Supply Management (ISM) reports a slight decline in the US service sector activity in September. The Services Purchasing Managers Index (PMI) dropped to 53.6% from August's reading of 54.5%, in line with consensus estimates. The pullback in growth was attributed to slower rates of growth in new orders and employment indexes. Gold traded at $1,817.77 an ounce, down 0.27% on the day.
- Gold near session lows as ISM Services PMI meets expectations in September Kitco NEWS
- US services sector growth slows moderately Reuters
- Slowing Services Sector Activity Hinders U.S. Economic Outlook Investopedia
- Did the Bank of England base its hiking pause on bad data? Financial Times
- India's services sector grew at faster pace in September, optimism at nine-year high Reuters India
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