The Commerce Department’s latest report reveals a fragile recovery, with orders climbing only marginally after a revised 4.0% contraction in May. Core durable goods, excluding the volatile transportation category, mirrored this trend by rising 0.6%, missing the projected 0.9% target. Market participants expected the data to spark a safe-haven rally, yet the response has been muted.

Spot gold last traded at $4,087.17, marking a modest daily gain of 0.80%. Analysts suggest the metal’s inability to break higher stems from a disconnect between weak manufacturing output and the broader interest rate environment. While a slowing economy typically discourages the Federal Reserve from aggressive rate hikes, gold has yet to capture a sustained bid from investors looking to navigate persistent inflationary pressures.