While the headline figure for total orders mirrored the consensus forecast, underlying metrics offered a more robust picture of the industrial landscape. Core durable goods, which exclude the often-erratic transportation sector, climbed 1.3%—more than doubling the anticipated 0.6% growth. April’s core data also received an upward revision to 1.4%.

Business investment indicators further signaled resilience, as non-defense capital goods orders excluding aircraft posted a 1.6% increase. This performance significantly outperformed the 0.6% expectation and reversed the downward trend seen in April. Investors responded to the mixed data with caution, keeping spot gold at $4,001.70 per ounce, a marginal gain of 0.06% for the day.