Spot Gold Reaches $4,100/oz as ISM Manufacturing PMI Falls to 53.3 in June

According to Kitco News, the U.S. Manufacturing Purchasing Managers Index fell to 53.3 in June, down from 54 in May and below consensus expectations of 54, as reported by the Institute for Supply Management on Wednesday. The headline number indicates manufacturing activity remained in expansion but at a slower pace.

Spot gold shot to a session high of $4,108.20 just before the index release and last traded at $4,094.56 per ounce, up 2.17% on the day. The decline in the New Orders and Production indexes, alongside a 9.1-percentage-point drop in the Prices Index to 73 percent, continued the sector's moderation.