We saw a sizeable move lower in the gold price after the Chicago PMI came in much higher than forecast, with gold subsequently falling to a low of $1319

Chris Weston

We saw a sizeable move lower in the gold price after the Chicago PMI came in much higher than forecast, with gold subsequently falling to a low of $1319. The upshot of the higher Chicago manufacturing print is tonight's ISM manufacturing should hold up well, with the market currently expecting a read of 55.0 on this index, just down from 56.2 last month. An above consensus print could push gold closer to the former August 28 downtrend at $1274.


Chris Weston

Chris joined IG as a sales trader in 2006, having worked previously at Morgan Stanley, Credit Suisse and Merrill Lynch, gaining exposure to both equity and fixed income trading. After accruing 15 years' experience in financial markets, Chris...

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