(Kitco News) - The gold market continues to trade near session highs this morning after the U.S. manufacturing sector missed expectations with a flat reading last month.
On Thursday, the Commerce Department said that U.S. durable goods orders came in at 0.0% in December, following November’s upwardly revised 5.5% increase. The data was weaker than expected as economists were looking for an increase of 1.1%.
Core durable goods, which exclude the volatile transportation sector, increased by 0.6%, following November’s increase of 0.5%. The core numbers were stronger than expected, as economists were looking to see a 0.2% increase.
The gold market continued to trade at elevated levels following the data, which was released at the same time as U.S. Advance Q4 GDP, though it has come off session highs. Spot gold last traded at $2,018.42, up 0.21% on the day.
