Yellow Metal Weakened

Forex News

Gold has broadly dropped. Currently, spot gold is trading at 1222.08 dollars/ounce and it continues to lower, hitting its minimum since May 11. US ISM Manufacturing PMI rose to the 7-month maximum of 57.8 in prior month, supported by increased demand for US exports. US Gross Domestic Product was revised up to 1.4%. Consumer confidence and exports remain strong. Inflation and consumer spending are still weak. Personal Spending dropped from 0.4% to 0.1%.