Spot Gold XAU/USD Surges as Bidders Seek $2,100 Post-US ISM PMI Miss
Friday, 1 March 2024, 16:57
Spot Gold Surges Above $2,100
Spot Gold experienced a notable surge after the US ISM Manufacturing Purchasing Manager Index (PMI) failed to meet forecasts.
Impact on Federal Reserve
The below-expectation PMI figures have raised expectations of rate cuts by the Federal Reserve in the near future.
Market Reaction
This unforeseen event has sparked a fresh wave of bidding activity, pushing the XAU/USD pair to new heights above $2,100.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.