Gold dropped as momentum in the service sector was slightly better than expected in September, according to the latest data from the Institute of Supply Management (ISM). The Services Purchasing Managers Index (PMI) was at a reading of 56.7% last month, down from August’s 56.9%. The 0.2 percentage-point decline was a surprise to the upside as market consensus calls were expecting the index to come in at 56.0%. Readings above 50 are seen as a sign of economic growth – the farther an indicator is above or below 50, the greater or smaller the rate of change. Looking at the specifics, the new orders sub-index was at ... (full story)