Manufacturing Activity Hits a 28-Year Low [View article]
The U.S. still has a very large manufacturing sector, so this report is very relevant. The recently reported drop in consumer confidence (for October) was probably a harbinger of this report.
As for the relevance of the ISM index to enthusiasm for gold, it's hard to use a change in one report like this as an argument in either direction. Gold probably makes the most sense for investors as a portfolio diversifier; its lack of correlation to large cap equities helps improve the portfolio's risk-return profile.
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The U.S. still has a very large manufacturing sector, so this report is very relevant. The recently reported drop in consumer confidence (for October) was probably a harbinger of this report.
Jan 04 01:35 am
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All Comments by Anthony Alfidi »Manufacturing Activity Hits a 28-Year Low [View article]
As for the relevance of the ISM index to enthusiasm for gold, it's hard to use a change in one report like this as an argument in either direction. Gold probably makes the most sense for investors as a portfolio diversifier; its lack of correlation to large cap equities helps improve the portfolio's risk-return profile.