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Sentry Select Primary Metals Corp. (the Fund) is a Canada-based financial investment company. The Fund’s investment objective is to provide shareholders with long-term capital appreciation, and monthly cash distributions. The Fund invests in an actively managed portfolio consisting primarily of securities of mining and exploration issuers, with a current focus on gold issuers. CI Investments... see more

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Sentry Select Primary Metals Corp > Gold heads higher on poor manufacturing data in US

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Post by mouserman on May 15, 2023 8:57am

Gold heads higher on poor manufacturing data in US

The gold market moved higher as the New York manufacturing sector reported a steep drop in May, according to the latest data from the New York Federal Reserve.

The regional central bank said its Empire State manufacturing survey's general business conditions index tumbled 43 points to -31.8 in May. The data missed consensus forecasts, which called for a reading of -3.7.

The May data followed April's recovery, with the index coming in at 10.8 last month.

"Manufacturing activity declined significantly in New York State, according to the May survey. After jumping into positive territory last month, the general business conditions index plunged forty-three points to -31.8," the report said.

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