Gold shoots to session highs after ISM Manufacturing PMI falls to 49.2 in April

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.

“The U.S. manufacturing sector dropped back into contraction after growing in March, the first time since September 2022 that the sector reported expansion,” said Timothy Fiore, Chair of the ISM Manufacturing Business Survey Committee. “Although demand improvement slowed, output remains positive and inputs stayed accommodative.”

The ISM did note improvement in the labor market even as it remained in contractionary territory. The Employment Index rose to 48.6, up from 47.4 the previous month. - The gold market is seeing some renewed bullish momentum, trading near session highs as momentum in the U.S. labor market cools, with the number of job openings falling more than expected.Job openings, a measure of labor demand, dropped to 8.49 million as of the last day of March, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday. The number of job openings has dropped by 1.1 million over the year.

Source: Financial Digest (financialdigest.net)

Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold price holding robust gains even as ISM PMI rises to 50.3 in MarchThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Gold price testing $2,300 as ISM Services PMI drops to 51.4%The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Gold prices pare losses as U.S. flash PMI shows weakness in manufacturing, service sectorsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

March new home sales, April manufacturing PMI: Breaking dataUS new home sales surpassed March estimates, reporting 693,000 sales month-over-month while falling 2% on an annual basis. The inventory crunch and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Gold holds steady after New York manufacturing index misses expectations again in AprilThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

GOLD SWOT: Gold continues to set new record highsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »