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Gold remains higher after U.S. Jan. durable-goods orders fall 0.2%

Kitco News

(Kitco News) - Gold prices maintained overnight gains Thursday after a Commerce Department report showed that U.S. durable-goods orders fell by 0.2% during January. Spot gold was last up $9 to $1,649.80 an ounce.

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

Excluding transportation, new orders rose by 0.9%. Excluding defense, new orders increased 3.6%. Transportation equipment drove the decrease in overall durables orders, falling 2.2%.

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.

The report on durables came out at the same time as data on gross domestic product and initial jobless claims.
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