US Manufacturing Sector Continues to Weaken, Gold Price Rises.
TL;DR
Gold prices are near session highs as the US Institute for Supply Management (ISM) reports that activity in the US manufacturing sector slowed more than expected in March, dropping to 46.3%, its lowest point since June 2020. The weaker activity is helping to cool inflation, with the Prices Index dropping to 49.1%. Economists believe that the US is moving closer to a recession, with domestic demand growth set to weaken sharply. June gold futures last traded at $1,983.10 an ounce, up 0.72% on the day.
- Gold price at session highs as U.S. ISM Manufacturing PMI drops to 46.3 Kitco NEWS
- Manufacturing shrinks for 5th month in a row, with one gauge signaling recession MarketWatch
- US manufacturing sector weakest in nearly three years in March -ISM Reuters
- US S&P Global final March manufacturing PMI 49.2 vs 49.3 prelim ForexLive
- EUR/USD and a Slide to $1.0750 in the Hands of Manufacturing PMIs FX Empire
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