Gold Retreats from Highs as US Data Presents Mixed Economic Signals

Gold prices have pulled back from recent record highs, trading around $4,478 an ounce, as global markets process a mix of robust US economic growth data alongside softer consumer confidence and durable goods orders. This retreat is influenced by profit-taking and a slight rebound in the US Dollar, though geopolitical tensions and Federal Reserve rate cut expectations continue to underpin bullion prices.

• Gold prices near record highs, recently pulling back to $4,478 an ounce.
• US Q3 GDP expanded strongly at 4.3%, exceeding expectations.
• US consumer confidence weakened for fifth consecutive month in December.
• Durable Goods Orders declined, adding to mixed economic indicators.
• Geopolitical tensions and Fed rate cut expectations support gold's long-term trend.
• Indian gold market closely watches global cues due to high domestic demand.

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