(Kitco, Thursday, July 25th, 2019) – Gold prices pared early gains after a Commerce Department report Thursday showed U.S. durable-goods orders rose 2% to $246 billion in June. Spot gold was last up $2.10 to $1,427.40 an ounce.
Consensus expectations compiled by various news organizations called for durables to be up by around 0.7%. The increase came after two consecutive monthly decreases, including a 2.3% decline in May, the government said.
Transportation equipment, also up following two consecutive monthly decreases, led the over increase in durables, rising by 3.8%, the government said. New orders excluding transportation rose 1.2%. Excluding defense, new orders increased 3.1%.
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.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com