Gold Slides as U.S. Durable Goods Orders Beat July Forecasts

The report highlights a complex landscape for investors. While headline orders exceeded projections, core durable goods—which exclude the volatile transportation sector—rose by only 0.4%, missing the 0.6% forecast. Furthermore, non-defense capital goods orders excluding aircraft, a key proxy for business investment plans, arrived at 0.2%, falling short of the expected 0.9% gain.

Following the 8:30 am ET release, the precious metal surrendered early gains. Gold was last trading at $4,620.38 per ounce, reflecting a 0.83% decline on the session. Market participants are now weighing these mixed industrial indicators against the broader economic outlook, as the stronger-than-expected headline data complicates the case for aggressive monetary easing.