Gold may fall during profit-taking
News on August 5th, after hitting a new intraday high last Friday, gold fell in the early Asian session on Monday, possibly due to profit-taking. The market focus may be on the US ISM Services Purchasing Managers' Index (PMI) report released later today. George Khoury, Global Director of CFI Education and Research, stated in an email that if the Purchasing Managers' Index rises as expected, it could alleviate investors' concerns about the state of the US economy and potentially affect gold prices and slow down the current rise in precious metals.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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