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.