The actual Manufacturing PMI figure came in at 54.6, falling short of the forecasted 55.2. ^[1] The Institute of Supply Management (ISM) released its latest Manufacturing Purchasing Managers Index (PMI) report on an unspecified date in 2026. ^[2] The New Zealand Dollar slid 1.0% to $0.5834 after the Reserve Bank of New Zealand raised its Official Cash Rate by 25 basis points to 2.75%. ^[3] The most recent U.S. Factory Orders report showed a 0.9% month-over-month increase in the total value of new purchase orders placed with manufacturers. ^[4] As of September 2, 2026, spot gold was trading at $4,333.35 per ounce, down 2.75% from the previous close. ^[5] Gold prices have fallen approximately 22% from their record high of $5,589.38 per ounce, which was reached on January 28, 2026. ^[6] The spot price of gold rose to $4,436 per ounce, following a previous session where it reached $4,409.97. ^[7] Federal Reserve Chair Kevin Warsh indicated that more action could be needed if inflation does not move clearly toward the Fed's 2% target. ^[8] Investors increased expectations for a September interest rate hike following comments by Federal Reserve Chair Kevin Warsh, causing gold prices to fall by roughly 3% on August 28. ^[9] Gold futures increased by 0.9% to $4,455.30 per ounce. ^[10] The rise in gold prices is attributed to the weakening of the US dollar and a decline in Treasury yields. ^[11] Spivak noted that if gold prices remain above $4,400, the next targets could be $4,500 and then $4,700. ^[12]