ISM Manufacturing PMI Misses Expectations, Gold Prices Rebound

The US manufacturing sector's performance in September was weaker than expected, causing gold prices to briefly dip before rebounding. The Institute for Supply Management (ISM) reported that its Manufacturing Purchasing Managers Index (PMI) fell to 54.5, below the consensus forecast of 55.

Despite the mixed picture across key areas, the Prices Index shot higher compared to the prior month, with a notable increase of 6.8 percentage points to 77.9 percent.