Gold Holds Near $1200 After Retail Sales, PPI
WASHINGTON (dpa-AFX) - Gold futures were flat Friday morning after disappointing US retail sales.
Feb. gold was down $1 at $1198 an ounce, having jumped near $1210, the highest since November, in the previous session.
The precious metal has been back in style of late thanks to its safe haven appeal.
The transition between the Obama and Trump administration has raised anxieties about the direction of fiscal policy and the Federal Reserve.
Yesterday, a slew of Federal Reserve speakers gave conflicting assessments of the U.S. economy and the outlook for interest rates.
In economic news, U.S. retail sales were up 0.6 percent in December.
Economists had expected retail sales to advance by 0.7 percent compared to the 0.1 percent uptick originally reported for the previous month.
U.S. producer price growth came in line with economist estimates.
The Labor Department said its producer price index for final demand rose by 0.3 percent in December after climbing by 0.4 percent in November.
Copyright RTT News/dpa-AFX