If you’ve caught our last few bulletins, you’ll know that a tremendous buying opportunity has emerged. This week, the latest US data has created a fresh urgency around the need to act quickly to capitalise on the dip, as the precious metal is now showing signs of rebounding.
The latest data from the Institute for Supply Management (ISM) published yesterday (Tuesday) was classed as ‘disappointing’ by experts, with the figures giving a worse than expected picture, with a non manufacturing index reading of 60.1%. It was hoped that June’s figures would be 63.4%.
In the wake of this data, gold was standing strong above the important £1,305 ($1,800) price level, up 1.59% on the day. Buy now.