Gold Holds Firm Amid Weak Durable Goods Data

Gold prices held steady despite weak US durable goods data released on Monday. The Commerce Department announced that US durable goods orders rose 0.3% in June, falling short of economists' consensus expectations. Analysts noted that weaker manufacturing activity could offer some support to gold, making the Federal Reserve less likely to raise interest rates.

Spot gold was last trading at $4,087.17, up 0.80% on the day, as per data from commodity trading platforms. 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. The rise in silver came as traders reassessed the factors influencing precious-metals markets.