Gold prices stuck in neutral as U.S. durable goods orders rise 1.0% in October

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At the same time core durable goods, which excludes the volatile transportation sector increased 0.5%, up from September’s revised decline of 0.9%. Economists were expecting to see an unchanged reading. Along with the solid headline number, the report noted that shipments of manufactured goods increased 0.4% last month, following September’s 0.3% increase. The report noted that shipments have increased 17 out of the last 18 months.

“For the current quarter, shipments of core capital goods were up strongly at 1.3% m/m in October, helped by the alleviation of supply chain issues that is allowing for the fulfillment of past orders, and suggesting a contribution to growth from business investment in equipment,” she said.

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