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Gold held steady above $2,490 per ounce on Wednesday, after retreating in previous sessions, as investors assessed new economic data and its impact on the Federal Reserve’s interest rate outlook.
ISM data showed that US manufacturing activity fell more than expected in August, highlighting the sector's weakness and challenging the notion that the US economy remains resilient to higher borrowing costs.
Meanwhile, expectations for a dovish shift were tempered by a sharper-than-expected rise in prices for goods producers.
ISM data showed that US manufacturing activity fell more than expected in August, highlighting the sector's weakness and challenging the notion that the US economy remains resilient to higher borrowing costs.
Meanwhile, expectations for a dovish shift were tempered by a sharper-than-expected rise in prices for goods producers.
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