Gold Steadies as US Durable Goods Orders Fall Less Than Expected

Key Facts
US durable goods orders fell 4.5% month-on-month in May, a smaller decline than the 4.7% expected, according to Commerce Department data. The drop was driven by a sharp 14.0% fall in transportation equipment orders to USD 113.5 billion, official data showed.
Excluding transportation, underlying orders improved unexpectedly, pointing to relative strength in the manufacturing sector outside that segment. This divergence eases fears of industrial weakness and reinforces expectations that the Federal Reserve may take a cautious approach to rate cuts, keeping gold near elevated levels without major moves.
Investors are watching Fed officials' speeches in the coming days for policy signals, with focus likely on upcoming inflation data. Gold remains supported by safe-haven demand despite relative dollar strength, amid ongoing geopolitical uncertainty.