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Gold prices firm as dollar eases on grim U.S. retail sales


Friday, 15 February 2019 08:20 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold prices firmed on Friday as the dollar weakened slightly after disappointing U.S. data indicated slowing economic momentum, supporting the U.S. Federal Reserve's 'patient' monetary policy approach.

Spot gold was little changed at $1,312.82 per ounce at 0009 GMT. It rose 0.5 percent in the previous session in its biggest intraday gain since Jan. 30.

U.S. gold futures were up 0.1 percent at $1,315 an ounce.

U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018.

Further dimming investor sentiment was other data showing an unexpected increase in the number of Americans filing claims for unemployment benefits last week and a second straight monthly decline in producer prices in January.

Two White House negotiators in trade talks with China will meet on Friday with Chinese President Xi Jinping, but there has been no decision to extend a March 1 U.S. deadline for a deal, White House economic adviser Larry Kudlow said on Thursday.

Source: Reuters


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