October 02, 2019

Gold is hovering around $1,500.00, up 2.2% in the past two days, as troublesome economic data continues to pound US equities.  Yesterday, the ISM Manufacturing Index dropped to its lowest level in a decade and showed that the manufacturing industry is continuing to decline after August’s data already showed it in contraction.  Today, ADP jobs data missed estimates showing private-sector growth continues to slow.  Stocks continue their selloff with the Dow, Nasdaq, and S&P 500 all down almost 2% midday.