Money Market Guru – Gold Futures Steady To End The Week After Big Losses – Gold futures were flat Friday, steady after big losses earlier in the week. Data showing weakness in the manufacturing sector conflicted with the Federal Reserves rosy assessment of the economy. At 54.6 in September, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index was down slightly from 55.3 in August, data showed.

On Wednesday, the Federal Reserve maintained their so-called dot plot of rate projections for this year and next, strongly hinting at a December rate hike. Also, the Fed said it will begin shrinking its bloated $4.5 trillion portfolio in October by allowing $10 billion in bonds to mature without replacing them.

Read More: Gold Prices Recover on Renewed Buying

Reflecting large positive contributions from building permits, the yield spread, and consumer expectations, the Conference Board released a report on Thursday showing a bigger than expected increase by its index of leading U.S. economic indicators. The Conference Board said its leading economic index climbed by 0.4 percent in August after rising by 0.3 percent in July. Economists had expected the index to edge up by 0.2 percent.