Gold prices trying to hold on as U.S. manufacturing sector sees steady activity

(Kitco News) - Gold prices are trying to hold on to modest gains following the release of economic data that shows momentum within the U.S. manufacturing sector is holding steady.

Friday the Commerce Department said that U.S. durable-goods orders declined by 0.4% in September, following August’s revised increase of 1.3%. The data was better than expected; consensus expectations compiled by various news organizations called for orders to decline 1.1%.

This is the first decline in headline orders in four months.