(Kitco News) – Gold prices erased moderate early losses and briefly held modest gains in late-morning dealings Friday, following another downbeat U.S. manufacturing report. Prices did quickly slip back below unchanged, however. The ISM manufacturing index for October came in at 48.3 versus expectations for a reading of 49.1. The number was reported at 47.8 in September. A reading below 50.0 suggests contraction in the sector. Friday’s ISM report follows a weaker Chicago ISM report on Thursday. Gold prices were last down $2.00 at $1,512.70.
By Jim Wyckoff
For Kitco News
Contact jwyckoff@kitco.com
www.kitco.com
