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

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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% […]

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