Gold trades near session high as November ISM Services PMI falls to 52.1
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Gold prices are trading near session highs following the release of the November ISM Services PMI, which fell to 52.1. This indicates a potential slowdown in the services sector, which may influence market sentiment towards gold as a safe-haven asset.
December 04, 2024 | 3:45 pm
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AAAU, a gold-backed ETF, may see increased interest as gold prices rise due to the lower ISM Services PMI, suggesting economic uncertainty.
The drop in ISM Services PMI suggests a potential economic slowdown, which typically boosts demand for gold as a safe-haven asset. As a gold-backed ETF, AAAU is likely to see increased investor interest, positively impacting its price.
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