Gold Stuck Below $4,100 Amid Disappointing US Manufacturing Data

The gold market remains stuck below $4,100 despite weak manufacturing activity in the US. The Commerce Department announced that US durable goods orders rose 0.3% in June, lower than the expected 1.6%. This data indicates a slower pace of growth for the manufacturing sector.

Core durable goods, which exclude transportation, increased by 0.6% last month, also below expectations. Analysts note that weak manufacturing activity should support gold prices as the Federal Reserve will be hesitant to raise interest rates in a slowing economy.