Gold price continues to struggle as ISM manufacturing PMI rises to 49.3
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Gold prices are under pressure as the ISM manufacturing PMI rises to 49.3, indicating a potential improvement in the manufacturing sector.
January 03, 2025 | 3:30 pm
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NEGATIVE IMPACT
The rise in ISM manufacturing PMI to 49.3 suggests a potential improvement in the manufacturing sector, which could lead to a stronger US dollar and put pressure on gold prices, affecting AAAU.
A higher ISM manufacturing PMI suggests economic improvement, which can strengthen the US dollar. A stronger dollar typically leads to lower gold prices, negatively impacting gold ETFs like AAAU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80