Gold Rises Above $4,100 Amid Weaker US Durable Goods Data

Gold prices rose on Monday despite weak US durable goods data and uneven safe-haven demand. Spot gold broke above $4,100 as the dollar fell and oil retreated, supporting bullion even without a strong 'panic' safe-haven bid.

The Commerce Department reported that US durable goods orders rose 0.3% in June, below economists' consensus expectations of a 1.6% increase. The data highlighted continued weakness in the US manufacturing sector, which could potentially offer some support to gold as a slowing economy makes the Federal Reserve more reluctant to raise interest rates.

Gold prices showed limited reaction to the disappointing durable goods figures, but analysts noted that weaker manufacturing activity could make the Fed less likely to hike aggressively, keeping real-rate pressure contained while inflation stays elevated. Spot gold was last trading at $4,087.17, up 0.80% on the day.