Gold prices holding on to gains despite strong rise in U.S. ISM manufacturing sentiment

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( Kitco News ) – The gold market is holding on to gains but is seeing little reaction to significantly better-than-expected sentiment in the U.S. manufacturing sector, according to the latest data from the Institute for Supply Management (ISM).

Monday, the ISM said its manufacturing index showed a reading of 59.3% for October, up from September’s reading of 55.4% and beating expectations. According to consensus forecasts, economists were expecting to see a reading of 55.6%.

According to reports, this is the highest positive reading in the survey since December 2018."“The manufacturing economy continued its recovery in October. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories; with every month, they are becoming more […]

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