Spot Gold Falls 0.74% to $4,141 as U.S. Services Hold at 54.0
Updated
Updated · Kitco NEWS · Jul 6
Spot Gold Falls 0.74% to $4,141 as U.S. Services Hold at 54.0
1 articles · Updated · Kitco NEWS · Jul 6
Summary
$4,141 an ounce marked spot gold's latest trade, down 0.74% as the metal again failed to break resistance near $4,200.
ISM's services PMI slipped only to 54.0 in June from 54.5 in May, roughly matching forecasts and reinforcing views that U.S. economic activity remains resilient.
That resilience has kept pressure on gold because investors still expect the Federal Reserve to raise rates before year-end, limiting renewed bullish momentum.
The ISM report also showed some late-cycle strain—14 industries grew, four contracted, and inventories fell to their second-lowest level since October 2025—while tariff-related pricing pressure persisted.
Rate-hike expectations have eased somewhat after June nonfarm payrolls rose just 57,000, but not enough to lift gold out of its recent selling pressure.