Gold Moves Little After U.S. Sept. U.S. Durable-Goods Orders Rise 0.8%

(Kitco News) – Gold did not move much after a Commerce Department report Thursday showing that U.S. September orders for durable goods rose by 0.8% to $262.1 billion. December Comex gold futures were last at $1,234.90, up 0.31% on the day.

Consensus expectations compiled by various news organizations had called for durables to be down by somewhere between 1.5% and 1.9%.

This increase followed a 4.6% rise in August. Excluding transportation, new orders increased 0.1%, the government said. Excluding defense, new orders decreased 0.6%. Transportation equipment led the increase, rising by 1.9 percent to $97.4 billion.

The government’s durables report covers items with an expected life of at least three years, such as kitchen appliances, computers, furniture, autos and airplanes.

By Allen Sykora
For Kitco News


Share Post :

More Posts