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Gold Prices Turn Lower on U.S.-Iran Talks, Strong Retail Sales Data

Wednesday, 17 July 2019 13:16 WIB

GOLDEMAS

Gold prices fell on Wednesday in Asia on reports that the U.S. is set to begin talks with Iran.

Retail sales gained 0.4% in June, outpacing consensus forecasts for a 0.1% advance. The data sparked buying interest in the U.S. dollar and pushed Treasury yields higher, which in turn put pressure on the yellow metal.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange, fell 0.3% to $1,406.75 a troy ounce by 12:36 AM ET (04:36 GMT). The precious metal had been trading higher ahead of the retail sales data but fell following the retail sales release.

Source : Investing.com

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