Gold Pulls Back From Session Highs as Strong ISM Manufacturing Data Weighs on Prices - News and Statistics - IndexBox

AI desk brief

Gold pulled back from session highs after the U.S. ISM Manufacturing PMI rose to 55.5 in October from 54.5, reinforcing the view that solid U.S. activity gives the Fed room to stay focused on inflation. Spot gold was last at $3,955.60/oz, still up 2% on the day, but sellers emerged as price tested resistance below $4,000/oz.

The report also showed the ISM Prices Index eased to 75.2 from the prior month but remained elevated, underscoring lingering inflation pressure. New orders and production both improved, while the employment component softened slightly, leaving the near-term setup mixed but modestly bearish for gold on firmer growth and real-rate implications.