Gold Prices Rebound as US Manufacturing PMI Misses Expectations in August - News and Statistics - IndexBox

AI desk brief

Gold recovered from session lows after weaker-than-expected U.S. manufacturing data lifted the macro bid: the ISM Manufacturing PMI fell to 54.6 in August from 55.6 in July, below the 55.3 consensus. Spot gold dipped to $4,326.27/oz after 9 a.m. ET, then rebounded after the 10 a.m. release and last traded at $4,366.69/oz, still down 1.86% on the day.

The ISM detail was mixed but still supportive for the metal. New orders eased to 53.7 from 56.7, production slipped to 58.3 from 58.5, backlog fell to 51.8 from 55.0, and employment declined to 51.2 from 52.8. The only clear positive in the report was supplier deliveries accelerating, while the prices index stayed elevated at 71.1, unchanged from July, suggesting input-cost pressure remains sticky even as activity cools.

Near term, this keeps the gold macro setup constructive on softer growth expectations, though the fact that gold was still lower on the day shows the market is not yet in a straight-line risk-off move. Watch follow-through in U.S. data and Treasury yields: if incoming activity prints keep missing, dip-buying in bullion should stay active; if yields firm or the dollar rebounds, the rebound may stall around the intraday high zone near $4,366/oz.