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

Pepperstone

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.


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Chris Weston
Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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