Dollar Decline Boosts Gold Amid Weakening Economic Data

Gold continued to defy expectations on Monday, holding gains despite weak US durable goods data. Despite disappointing manufacturing sector growth, gold prices showed little reaction to the figures. Analysts noted that a slowing economy could make the Federal Reserve more reluctant to raise interest rates, even as inflation pressures remain elevated.

The dollar's decline and oil's retreat provided additional support for bullion, pushing spot gold above $4,100 an ounce. The move came despite a lack of strong 'panic' safe-haven demand, with markets instead focusing on changes across several major asset classes.