Gold price ticks up to daily highs as U.S. retail sales disappoint in October

Gold price ticks up to daily highs as U.S. retail sales disappoint in October

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

Editor’s Note: The article was updated to reflect changes in prices. (Kitco News) Gold prices ticked up following worse-than-expected retail sales data from October.

U.S. retail sales rose 0.3% in October following a downwardly revised increase of 1.6% in September, according to the latest data from the U.S. Commerce Department. Economists were expecting to see an increase of 0.5% in last month’s headline number.

After the publication, December Comex gold futures edged up to daily highs, last trading at $1,890.90 down 0.16% on the day.One of the weakest parts of the retail report was purchases of clothing and sporting goods as both contracted 4.2% in October.Core sales, which strip out vehicle sales, advanced 0.2% last month versus the expected 0.6% […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet