Commodity Trade Mantra

Posts Tagged ‘Purchasing Manager’s Index’

Investors Not Believing Economic Data, Still Prefer Gold

I think there is some disbelief in the recent slew of better-than-expected U.S. economic data, which could be supporting gold prices. Lower U.S. Treasury yields are increasing the attractiveness of gold and other precious metals as gold doesn’t pay a coupon or dividend. Investors have started to move back into gold. As a result, every slight weakening in prices is only temporary.

For Commodities Forecast: Follow This Sneaky Indicator

The purchasing managers’ index (PMI) forecasts future manufacturing conditions and activity by assessing forward-looking factors. When a PMI “cross-above” occurs—that is, when the monthly reading crosses above the three-month moving average—it has historically signalled a possible uptrend in crude oil, copper and other commodities.

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