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

Kitco News

(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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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