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Gold prices continue to struggle even as U.S. manufacturing disappoints

September 25, 2020

New York (Sept 25)  The gold market continues to see some selling pressure even as the U.S. manufacturing sector struggles to find momentum.

Friday the Commerce Department said that U.S. durable-goods orders rose by 0.4% in August. The data was worse than expected; consensus expectations compiled by various news organizations called for durables to rise 1.1%

Excluding transportation, core durable goods orders were also weaker than expected, rising 0.4%. Economists were calling for a 1% rise.

The gold market has seen little reaction to the mixed economic data. Spot gold prices on Kitco.com last traded at $1,859.30 an ounce, up 0.55% on the day.

KitcoNews

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