Gold near session lows after U.S. durable goods surprise with 3.1% rise in January
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Gold prices fell to session lows after U.S. durable goods orders rose by 3.1% in January, surpassing expectations. This economic data suggests a stronger economy, which can lead to a decrease in gold's appeal as a safe-haven asset.
February 27, 2025 | 2:00 pm
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AAAU, a gold-backed ETF, may see a short-term decline in value as gold prices drop due to stronger-than-expected U.S. durable goods data, which suggests a robust economy and reduces gold's safe-haven appeal.
The rise in U.S. durable goods orders indicates economic strength, which typically reduces the demand for gold as a safe-haven asset. This can negatively impact gold-backed ETFs like AAAU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80