Gold Holds Firm Despite Weak US Durable Goods Data

Gold prices held steady despite weak US durable goods data released on Monday. The data showed a 0.3% increase in durable goods orders for June, below economists' expectations of a 1.6% rise.

The gold market has been struggling to attract a consistent safe-haven bid, but spot gold still rose 0.80% to $4,087.17 on the day.

Analysts noted that weaker manufacturing activity could potentially support the precious metal, and the decline in the dollar provided another source of support for bullion.

The dollar index slipped 0.3%, making gold cheaper for buyers using other currencies.