Mixed Results for U.S. Durable Goods Orders in February
The gold market is holding steady around $2,000 an ounce as US durable goods orders fell 1% in February, marking the fourth consecutive monthly decline. The disappointing economic data is supporting gold prices as many expect a weaker economy will force the Federal Reserve to end its tightening cycle. The US is creeping towards a recession, with business equipment investment continuing to weaken even before the banking turmoil arose.