Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Gold prices trading near session highs following disappointing ISM data

Gold prices trading near session highs following disappointing ISM data

KitcoKitco2026/05/01 14:22
By:Kitco

(Kitco News) - After a slow start this morning, gold prices have managed to push back into positive territory, rising above $4,600 an ounce, and have attracted additional bullish momentum following disappointing manufacturing data.

The Institute for Supply Management (ISM) announced on Friday that its Manufacturing Purchasing Managers Index remained unchanged at 52.7% in April. The headline number was weaker than expected, as economists had been looking for further growth, with a reading of 53.1.

The report said that the ongoing war in Iran remains a key factor driving sentiment in the manufacturing sector.

“In this second month of the Iran War (at the time of data collection), 31 percent of the comments were positive and 69 percent negative, with a positive-to-negative sentiment ratio of 1 to 2.2. Among comments, the war was mentioned in 47 percent and tariffs in 18 percent. As was the case last month, some panelists referenced both topics within a single comment or in mixed sentiment,” said Susan Spence, Chair of the ISM Manufacturing Business Survey Committee, in the report.

After seeing steady losses overnight, the gold market started to attract some bullish attention following the North American open and is trading at session highs in initial reaction to the disappointing ISM data. Spot gold last traded at $4,657.33 an ounce, up 0.75% on the day.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

VIPTradFi Focus: Where Does the RWA Market Stand Today?

1. Crypto outperformed traditional equity indexes following the rate hike, but elevated interest rates remain a key constraint on cross-asset allocation. From September 12 to 18, BTC, ETH, and SOL gained 4.83%, 3.84%, and 9.96%, respectively, while the S&P 500 edged down 0.08%. The U.S. Dollar Index rose 1.11%, and the 10-year U.S. Treasury yield closed at approximately 4.998%. Improving risk appetite is therefore coexisting with elevated discount rates, raising the bar for RWA allocation: investors need to compare not only returns on the underlying assets, but also on-chain liquidity and collateral efficiency. 2. Growth in tokenized equities is occurring even as the overall RWA market remains under pressure. As of September 18, Distributed Asset Value across RWAs stood at $38.503 billion, down 1.13% week over week, while tokenized equities reached $3.056 billion, up 6.03%. This week's data are better explained by capital reallocating across different RWA segments than by a broad-based expansion of the entire RWA market. 3. For exchanges, the opportunity lies in connecting spot holdings, collateral, and derivatives. Reality's distributed asset value stands at approximately $155 million, while eligible rTokens can already be used within Bitget's UTA margin framework. Across CoinGlass's verifiable sample of 177 TradFi instruments, open interest reached approximately $11.498 billion, up 2.06% week over week, even as weekly trading volume declined 7.60%. The medium-term opportunity remains intact, but deeper utilization will depend on liquidity, collateral use, and sustained trading activity. 4.Assets to watch: BTC, ETH, SOL, NEAR, ZEC, gold, tokenized U.S. equities, COST. 5.Key metrics to watch: rToken collateral utilization, the durability of TradFi open interest and trading volume, and next week's employment and consumer data.

Bitget2026/09/21 06:38
TradFi Focus: Where Does the RWA Market Stand Today?