Gold nears session high after U.S. durable goods post flat reading in January

Gold held near the session high above $5,110/oz after a weaker-than-expected U.S. durable goods report, with spot last at $5,114.18/oz (+0.69%) shortly after the 8:30am EDT release. Headline data showed January durable goods orders flat at 0.0% m/m versus +1.2% expected, following December’s -1.4%. Core durable goods (ex-transport) rose 0.4% versus 0.5% expected and down from December’s revised 1.3%; non-defense capital goods ex-aircraft was also flat at 0.0% versus +0.5% expected (Dec +0.6%). The print reinforces a softer-growth impulse that can pressure real yields and support gold, particularly if markets interpret the capex proxy weakness as cooling activity ahead of upcoming Fed communications. Near-term catalysts are additional high-frequency U.S. data and rates/FX reaction; risk is that the move fades if yields rebound or if subsequent inflation data re-anchors hawkish expectations.