Can gold lose its safe-haven bid as U.S. Durable Goods rise more than expected in September | Metals Mine

  • Can gold lose its safe-haven bid as U.S. Durable Goods rise more than expected in September

    From kitco.com

    Solid activity in the U.S. manufacturing sector is creating modest selling pressure for gold, as easing recession fears weigh on the precious metal’s safe-haven allure. The Commerce Department announced Wednesday that U.S. durable goods orders rose 0.5% in September, following August’s revised 3.0% increase. The data aligned with economists’ expectations. Core durable goods, which strip out the volatile transportation sector, rose 0.6%, beating the consensus forecast for a 0.2% increase. Meanwhile, non-defense capital goods orders excluding aircraft increased 0.9% in September, also exceeding consensus ... (full story)

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