Gold price pushing back to session highs as U.S. flash PMI falls more than expected

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At the same time the service sector fell deeper into contraction territory with its PMI falling to 44.1, down from July’s reading of 47.3. Economists were forecasting a reading of around 49.8. The gold market is seeing some new bullish momentum in initial reaction to the latest data. December gold futures last traded at $1,758.90 an ounce, up 0.60% on the day.

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