{"id":1462,"date":"2026-08-21T14:09:14","date_gmt":"2026-08-21T14:09:14","guid":{"rendered":"https:\/\/goontrading.com\/en\/spot-gold-holds-above-4585-oz-as-flash-sp-composite-pmi-improves-to-56-in-august\/"},"modified":"2026-08-21T14:09:14","modified_gmt":"2026-08-21T14:09:14","slug":"spot-gold-holds-above-4585-oz-as-flash-sp-composite-pmi-improves-to-56-in-august","status":"publish","type":"post","link":"https:\/\/goontrading.com\/en\/spot-gold-holds-above-4585-oz-as-flash-sp-composite-pmi-improves-to-56-in-august\/","title":{"rendered":"Spot gold holds above $4,585\/oz as flash S&P composite PMI improves to 56 in August"},"content":{"rendered":"

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(Kitco News) – The gold market is holding its earlier gains after the latest U.S. data showed the services sector improving beyond expectations this month, while the manufacturing sector weakened slightly.<\/p>\n

S&P Global reported on Friday that its flash Composite Purchasing Managers Index (PMI) rose to 56.0 in August, up from July\u2019s reading of 54.5. The number was above expectations, as economists had forecasted a reading of 53.2.<\/p>\n

\u201cUS business activity growth accelerated sharply for a second successive month in August to reach the fastest since April 2022,\u201d the report noted. \u201cA surge in service sector business activity helped offset a marked slowing of growth in the manufacturing sector, the latter blamed in part on reduced inventory building and supply delays. Supply times lengthened sharply again, and to one of the greatest extents seen over the past four years, contributing to a further build-up of uncompleted orders across both manufacturing and services.\u201d<\/p>\n

\u201cJobs were added at the fastest rate since the start of last year as increasingly confident companies took on more staff to meet higher demand,\u201d the report added. \u201cBusiness growth expectations struck a nine-month high. Price pressures meanwhile moderated, especially in terms of selling price inflation, though input cost inflation remained elevated thanks principally to high energy prices.\u201d<\/p>\n

The PMI for the service sector rose to 56.8 in August, up from July\u2019s reading of 54.6. Activity in the service sector was above expectations, as economists had forecasted a reading of 54.0.<\/p>\n

The manufacturing sector PMI declined. According to the report, the PMI for the manufacturing sector fell to 53.2, down from July\u2019s reading of 53.9, and also below the consensus forecast of 53.9.<\/p>\n

The gold market was pulling off the session lows following the North American open and the latest PMI data. Spot gold last traded at $4,585.15\u00a0 per ounce for a gain of 1.46% on the daily chart.<\/p>\n

\"article<\/span><\/span><\/p>\n

\u201cUS business is booming, with firms reporting the fastest output growth for over four years so far in the third quarter as the expansion picked up further momentum in August,\u201d said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. \u201cThe survey data for the third quarter are currently pointing to annualized growth approaching 3.0%, up solidly from the 1.5% pace seen in the second quarter.\u201d<\/p>\n

\u201cJobs growth has also shown a welcome revival in August, with employers gaining in confidence as concerns fade over the negative economic impacts of tariffs and the conflict in the Middle East,\u201d he added. \u201cHowever, the latter in particular remains a key area of concern for businesses, especially via the impact on supply lines and energy prices. Supply delays were again reported in August to one of the greatest extents seen over the past four years, clearly constraining output in many companies. Price pressures, while fading, also remain elevated and prone to renewed upward pressures should energy prices rise again.\u201d<\/p>\n

Williamson noted that growth momentum has shifted from manufacturing to services between the second and third quarters. \u201cAs reduced safety stock building and supply delays dampen factory production growth, the service sector is now playing a key role in driving a sustained US expansion, underscoring a dependency on consumer spending and financial services growth.\u201d<\/p>\n<\/div>\n

Kitco.com<\/p>\n","protected":false},"excerpt":{"rendered":"

\u26a1 Trade with Ultra-Low Spreads on IC Markets! \u2794 [Link] \ud83c\udf81 Get Your Exclusive XM Deposit Bonus Now! \u2794 [Link] \ud83d\udca1 Master the Markets with FXTM Copy Trading \u2794 [Link] (Kitco News) – The gold market is holding its earlier gains after the latest U.S. data showed the services sector improving beyond expectations this month, …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-1462","post","type-post","status-publish","format-standard","","category-gold-commodities-trade-news"],"_links":{"self":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts\/1462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/comments?post=1462"}],"version-history":[{"count":0,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts\/1462\/revisions"}],"wp:attachment":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/media?parent=1462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/categories?post=1462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/tags?post=1462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}