{"id":1006536,"date":"2026-08-17T13:27:16","date_gmt":"2026-08-17T13:27:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/1006536\/"},"modified":"2026-08-17T13:27:16","modified_gmt":"2026-08-17T13:27:16","slug":"spot-gold-trades-below-4380-oz-after-new-york-manufacturing-index-surprises-with-rise-to-20-6","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/1006536\/","title":{"rendered":"Spot gold\u00a0trades below $4,380\/oz after New York manufacturing index\u00a0surprises with rise to 20.6"},"content":{"rendered":"

(Kitco News) – Gold prices\u00a0were coming off their earlier session highs after manufacturing activity in the New York region\u00a0rose further into expansionary territory this month, according to the latest data published by the New York Federal Reserve.<\/p>\n

The regional central bank announced on\u00a0Monday\u00a0that its Empire State manufacturing survey\u00a0improved\u00a0to 20.6 in August, its highest reading in over four years, after posting a 15.6 print in July. The data was\u00a0better\u00a0than expectations, as consensus forecasts called for a decline to 10.2.<\/p>\n

\u201cNew orders and shipments posted solid gains,\u201d the report said. \u201cUnfilled orders increased notably, delivery times lengthened substantially, and inventories declined. Supply availability continued to worsen. Employment levels and the average workweek rose modestly. The pace of input price increases picked up, and selling price increases remained elevated but eased for a second consecutive month. Looking ahead, firms maintained an optimistic outlook for business activity.\u201d<\/p>\n

Gold<\/a> prices were giving back some of their earlier gains in the minutes after the 8:30 am ET release. Spot gold last traded at $4,379.42\u00a0 per ounce for a gain of 0.06% on the session.<\/p>\n

\"article<\/p>\n

The components of the report showed conditions improving on balance across the region\u2019s manufacturing sector.<\/p>\n

\u201cThe new orders index came in at 17.3, and the shipments index printed at 11.7, pointing to continued solid increases in orders and shipments,\u201d the report said. \u201cThe unfilled orders index rose eleven points to 15.5 and the delivery times index rose eight points to 20.6, suggesting an increase in unfilled orders and significantly longer delivery times. Inventories declined. The supply availability index dipped three points to -13.4, pointing to worsening supply availability.\u201d<\/p>\n

The employment picture also improved, while the prices indexes were mixed. \u201cThe index for number of employees came in at 9.3, and the average workweek index rose to 6.9, suggesting an ongoing expansion of employment levels and hours worked,\u201d the report said. \u201cThe prices paid index rose six points to 58.6, pointing to a pickup in input price increases, and the prices received index dipped five points to 22.7, suggesting that selling price increases moderated but remained elevated.\u201d<\/p>\n

Looking ahead, the New York Fed said that firms remained fairly optimistic about the outlook. \u201cThe index for future business conditions rose four points to 32.1, suggesting firms remained optimistic about future conditions,\u201d they wrote. \u201cNew orders and shipments are expected to increase significantly, and employment is expected to pick up strongly over the next six months. Supply availability is expected to worsen, and price increases are expected to remain elevated. Capital spending plans remained modest.\u201d<\/p>\n

Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"(Kitco News) – Gold prices\u00a0were coming off their earlier session highs after manufacturing activity in the New York…\n","protected":false},"author":3,"featured_media":1006537,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[5229,15398,15389,260,15394,15388,524,15391,15390,15392,6243,9401,15397,1149,15380,15399,15385,15400,15387,405,403,5226,5225,5228,5227,15382,15383,15381,15384,80,15386,15396,15401,5972,15395,67,586,132,5230,68,15393,2969],"class_list":["post-1006536","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-america","tag-bank-forecasts","tag-bitcoin-news","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-international-policy","tag-interviews","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-new-york","tag-new-york-city","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-tech-metals","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-us-dollar","tag-usa"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1006536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1006536"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1006536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1006537"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1006536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1006536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1006536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}