Gold prices have deteriorated further following a stronger-than-expected U.S. ISM manufacturing report that was just released. The January ISM reading was 56.0 versus 54.5 in December. A reading of 55.0 for January was expected. Gold prices were already feeling some pressure after a much-higher-than-expected U.S. ADP national employment report number was released about two hours ago. April gold was last down $8.60 an ounce at $1,202.80.
via Kitco
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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