Gold, which is often considered a safe-haven asset in times of economic uncertainty, is facing a challenging time. The ISM Manufacturing PMI, a key economic indicator, has risen to 49.3, closer to the 50-mark that separates growth from contraction in the sector. This implies that the U.S. manufacturing industry is slowly recovering, which typically decreases the attractiveness of safe haven investments and puts pressure on gold prices. As investors start to regain confidence in the economy, they may choose to invest in other assets. The price of gold will continue to be determined by the state of the economy, geopolitical tensions, and demand and supply dynamics, among other factors. Read More
Leave a Reply