Gold prices are holding steady after the latest data from the New York Federal Reserve showed stabilization of activity within its region's manufacturing sector.
The regional central bank said Friday that its Empire State manufacturing survey's general business conditions index rose to 1.9 in September, up nearly 21 points from August's reading of -19. The data was stronger than expected, as consensus forecasts were looking for the headline index to remain in contractionary territory with a smaller improvement to -10 after August saw the survey's first negative reading since May.
The report highlighted broad-based improvement throughout the sector. The New Orders Index rose 25 points to 5.1, up from August's reading of -19.9. The Shipments Index also rose 25 points to 12.4, up from the previous month’s -12.3 level. The report also noted persistently elevated inflation pressures, which have been negative for gold as it forces the Federal Reserve to maintain its aggressive monetary policies. The report said its Prices Paid Index held steady at 25.8, virtually unchanged from August’s level of 25.2.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Judge temporarily halts NY fraud trial against Trump, pending appealNEW YORK (Reuters) - A New York state appeals court judge on Thursday temporarily halted the scheduled Oct. 2 trial in New York Attorney General ...
Lire la suite »
Judge temporarily halts NY fraud trial against Trump, pending appealNEW YORK (Reuters) - A New York state appeals court judge on Thursday temporarily halted the scheduled Oct. 2 trial in New York Attorney General ...
Lire la suite »
Gold, silver weaker after U.S. CPI suggests still-hawkish FedSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Lire la suite »
New gold metric shows investors' holdings at their highest level since 2012(Kitco News) - The record streak of central bank gold purchases that began in 2022 has also driven investors to allocate the largest percentage of their portfolios to the precious metal since 2012, according to a newly-developed metric unveiled in a recent report from analysts at JPMorgan.
Lire la suite »
Gold, copper miners could pay 8% Federal royalties under new Biden mining proposal(Kitco News) - The Biden administration is proposing a dramatic overhaul of a 151-year-old law that governs mining for gold, copper and other minerals on U.S.-owned lands, which would force companies to pay royalties to the Federal government on what they extract.
Lire la suite »
Forecast for Fed's new forecasts - still one more rate hike to goBy Ann Saphir (Reuters) - Faster growth, cooler inflation and a job market that won't quit have set the stage for an updated batch of forecasts from ...
Lire la suite »