Chicago PMI Falls To 60.5 In September From 64.3 In August

The headline index for the Chicago Business Barometer, widely known as the Chicago Purchasing Managers Index, dropped by 3.8 points in September to a reading of 60.5.
In August, the index was 64.3. Despite the fall, the index reading of 60.5 is still considered “robust,” the Institute for Supply Management said.
Consensus estimates compiled by various news organizations called for the September headline index to come in between 59 to 65. The Chicago report tends to be watched closely as a sign of strength in the Midwestern manufacturing sector and as a possible precursor to the Institute for Supply Management’s PMI for the entire nation, which comes out one business day later and is scheduled for release on Wednesday.
Readings above 50 in such diffusion indexes are seen as a sign of economic growth, and vice-versa. The farther an indicator is above or below 50, the greater or smaller the rate of change.

Gold Sinks to 9-Month Low, Pressured by Surging U.S. Dollar

Gold prices are lower and fell to a nine-month low in early U.S. trading Tuesday. The yellow metal continues to be hamstrung by a powerful rally in the U.S. dollar and is now close to falling below major psychological support at the $1,200.00 level. D…

Gold Market Is ‘Very Short;’ Vulnerable To Rebound – TD Securities

With the drop in speculative long positions to the smallest since January and reduced holdings of gold-backed exchange-traded funds, “we judge that real money managers are reluctant to buy gold at this time,” says TD Securities.

Quick Turnaround From Studies To Mine Production Is Key – Goldsource President

(Kitco News) – With gold prices continuing to flounder against a stronger U.S. dollar, getting a mine up and running as quickly as possible is the smart way to go, said junior gold-mining executive.

Gold Ends Mixed; Short Covering and Bargain Hunting Offset by Strong U.S. Dollar

Gold futures prices ended the U.S. day session modestly higher, while the spot gold market was modestly lower Monday. Tepid short covering by the futures traders and some light bargain hunting were featured, following recent solid selling pressure tha…

CFTC Data Show Funds Cut Bullish Gold Positions To Lowest Since January

(Kitco News) – The bearish sentiment toward precious and base metals continues, as large speculators cut their net-bullish Comex gold futures and options holdings to the smallest since January, according to data compiled by the Commodity Futures Tradi…

Monday’s Forex Analytical Charts

Monday’s Analytical Charts for Gold, Silver and Platinum and Palladium

U.S. Pending Home Sales Fall 1.0% In August

(Kitco News) – The amount of people in the process of buying a home dropped in August, giving back some of July’s gains, according to data from the National Realtor Association.

CME Group’s Hunnable: New Hong Kong Gold Futures Contract To Allow ‘Easy Arb’

(Kitco News) – A new gold futures contract that CME Group aims to launch in Hong Kong by year-end will not only provide another venue for traders to take outright positions but is aimed at “easy arb” for those who want to hedge or trade price variations in different parts of the world, said a CME Group official.