Core durable goods orders, which exclude the volatile transportation category, climbed 0.3% last month. This data, coupled with a 1.6% surge in non-defense capital goods orders excluding aircraft, provides fresh evidence of economic resilience. Adam Button, head of currency strategy at investingLive, noted that these core figures reinforce a bullish outlook for the broader economy.
Gold steadies near $4,300 amid resilient US manufacturing
Gold prices held firm at $4,298.70 an ounce on Friday, defying pressure from stronger-than-expected manufacturing data. While the Commerce Department reported flat durable goods orders for August, the headline figure outperformed economist forecasts of a 0.3% decline, signaling unexpected underlying strength in the American industrial sector.
Despite this momentum, gold maintained a 0.60% gain for the day. Market participants remain cautious, as analysts suggest robust manufacturing data grants the Federal Reserve additional leeway to maintain high interest rates. With inflation risks persisting, the metal faces a complex environment where industrial health competes with safe-haven demand.
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