Gold Holds Above $4,000 Despite Resilient US Services Sector

The ISM Services Purchasing Managers Index arrived at 54.5 for October, dipping from September’s 54.9 and trailing the 54.8 figure anticipated by analysts. Despite this minor deceleration, the sector remains firmly in expansion territory, where any reading above 50 indicates ongoing growth. According to Steve Miller, Chair of the ISM Services Business Survey Committee, 15 industries reported growth during the period, exceeding the previous month’s count by two.

Spot gold last traded at $4,032.70, reflecting a daily gain of over 2% despite the persistent inflation signals embedded in the data. The market appears largely unmoved by the latest figures, maintaining its support level as investors weigh the balance between slowing momentum and a broader economic landscape that grants the Federal Reserve continued room to maneuver.