Spot Gold Holds Above $4585 per Ounce as US Services PMI Climbs to 56 in August

Gold prices held onto earlier gains after fresh US data showed services-sector growth beating forecasts in August, while manufacturing edged lower. S&P Global’s flash composite PMI rose to 56.0 from July’s 54.5 and the 53.2 consensus. Services PMI climbed to 56.8, but manufacturing PMI slipped to 53.2. Spot gold last traded at $4,585.15 per ounce, up 1.46%.