Gold Holds Near $4,000/Oz After U.S. Durable Goods Orders Drop 4.5% in May

Gold prices remain steady near the $4,000 mark following the release of softer U.S. economic data. The Commerce Department reported a 4.5% decline in durable goods orders for May, aligning with forecasts after a 7.9% surge in April. Excluding the volatile transportation sector, core durable goods orders rose 1.3%, beating expectations of 0.6%, with April’s figure revised higher to 1.4%. Non-defense capital goods orders excluding aircraft increased 1.6%, surpassing the 0.6% forecast and April’s revised -0.7%. Spot gold last traded at $4,001.70 per ounce, posting a modest 0.06% gain amid the data release.