us_equities_news.txt

Investing com   Gold futures extended gains in North America trade on Thursday to hit a new three month high after data showed U S  durable goods orders fell much more than expected in December  while core orders also fell sharply  underlining concerns over the health of the economy 
Gold for February delivery on the Comex division of the New York Mercantile Exchange rose to a session high of  1 125 70 a troy ounce  the most since November 3  before falling back to  1 120 70 by 13 55GMT  or 8 55AM ET  up  4 90  or 0 44  
The U S  Commerce Department said durable goods orders  which include transportation items  tumbled 5 1  last month  compared to forecasts for a decline of 0 6   Core durable goods orders  excluding volatile transportation items  fell 1 2   disappointing expectations for a drop of 0 1  
Orders for core capital goods  a key barometer of private sector business investment  plunged 4 3   far worse than expectations for a decline of 0 2   while shipments of core capital goods  a category used to calculate quarterly economic growth  dipped 0 2  
A separate report showed that the number of people who filed for unemployment assistance in the U S  fell more than expected  remaining in territory usually associated with a firming labor market 
Gold was already higher ahead of the data as market players viewed Wednesday s Federal Reserve policy statement as slightly dovish 
Fed funds futures  used by investors to place bets on central bank policy  forecast a 25  likelihood of a rate increase at the Fed s March meeting  according to data from CME Group  O CME   down from 34  ahead the Fed s statement on Wednesday 
Traders are anticipating just one more rate hike this year  most likely in July  compared with four according to Fed policymakers  guidance 
A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases 
Prices of the precious metal are up more than 5  so far this year as investors sought refuge from turmoil in global equity markets  Gold is often seen as an alternative currency in times of global economic uncertainty and a refuge from financial risk