Gold Edges Higher Amid Uneven Safe-Haven Demand

The gold market showed resilience despite weaker-than-expected US durable goods data on Monday. The data pointed to continued weakness in the manufacturing sector, but gold prices only rose modestly.

Spot gold was last trading at $4,087.17, up 0.80% on the day. Analysts noted that weaker manufacturing activity could potentially offer some support to the precious metal, as a slowing economy might make the Federal Reserve more reluctant to raise interest rates.

The dollar index slipped 0.3%, making gold cheaper for buyers using other currencies. This decline in the dollar provided another source of support for bullion. Silver also advanced sharply during Monday's trading session, surging towards $60 an ounce as a sharp retreat in oil prices encouraged precious-metals traders to look beyond immediate geopolitical risks.

Gold remained higher despite its limited reaction to the weaker US durable goods data. The precious metal continued to trade with an uneven safe-haven bid as investors weighed slowing manufacturing activity, elevated inflation pressures and the outlook for Federal Reserve policy.