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Gold Extends Losses After Upbeat U.S. ISM Report

(Kitco News) - Gold prices have deteriorated further following a stronger-than-expected U.S. ISM manufacturing report that was just released. The January ISM reading was 56.0 versus 54.5 in December. A reading of 55.0 for January was expected. Gold prices were already feeling some pressure after a much-higher-than-expected U.S. ADP national employment report number was released about two hours ago. April gold was last down $8.60 an ounce at $1,202.80.

Live 24 hours gold chart [Kitco Inc.]

By Jim Wyckoff, contributing to Kitco News;
Follow Jim Wyckoff @jimwyckoff



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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