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(Kitco News) –
Gold prices edged down after a Commerce Department report showing US durable goods orders rose 1.2% in December, with spot gold falling by $ 1.70 to $ 1,336.10 an ounce.
The metal had been at $ 1,335.30 five minutes before the durable goods reports, the weekly jobless claims and a Philadelphia Fed survey.
Consensus expectations compiled by different news agencies called for an increase in durable goods of between 1% and 1.4%. December data was delayed by the closure of the US government.
Excluding transportation, new orders rose 0.1%, the government said. Out of defense, new orders rose 1.8%. Transportation equipment, up four of the last five months, led the increase, up 3.3%.
The government's report on durable goods covers items with an expected life of at least three years, such as kitchen appliances, computers, furniture, automobiles and airplanes.
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