| | |
|
27-Oct (WSJ) — Gold prices rose Thursday, boosted by weaker-than-expected U.S. economic data.
Gold for December delivery was recently up 0.4% at $1,271.90 a troy ounce in the Comex division of the New York Mercantile Exchange.
Demand for long-lasting manufactured products slipped slightly in September, durable goods data showed Thursday, in a sign that the U.S. factory sector is still on shaky ground.
Prices for the precious metal tend to get a boost on weaker U.S. economic numbers, as poor data bolsters the argument for the Federal Reserve to raise rates at a slower rate. Gold struggles to compete with yield-bearing investments such as Treasurys when borrowing costs rise.
| |
Read the rest of the article at
USA Gold
