Gold prices have erased early losses and are trading modestly higher and at the daily high, in the wake of a weaker-than-expected U.S. durable goods orders report. The downbeat data falls into the camp of the U.S. monetary policy doves, who do not want the Federal Reserve to raise interest rates any time soon. The weak durables report also put more selling pressure on the U.S. dollar index, as it trades near its daily low in mid-morning dealings. The recent weaker greenback has been a bullish underlying factor for the precious metals and for the raw commodity sector. Once again, the gold market bulls are proving to be a very resilient lot. June gold was last up $5.60 an ounce at $1,246.00.
via Kitco 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.