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Gold remains higher after U.S. Nov. durable-goods orders fall by 2%

Kitco News

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(Kitco News) - Gold extended its price gains slightly Monday after a Commerce Department report showed U.S. durable-goods orders declined by 2% during in November. Spot gold was last up $4.10 to $1,482.50 an ounce.

Consensus expectations compiled by various news organizations called for durables to be rise by somewhere between 1% and 1.5%.

Excluding transportation, new orders were “virtually unchanged,” the government said. Excluding defense, new orders increased 0.8%. Transportation equipment, meanwhile, led the decrease, falling by 5.9%.

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.

Two minutes ahead of the report, spot gold was up $3.10 to $1,481.50 an ounce.

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