(Kitco News) - Gold prices remained steady after retail sales came in above market expectations in August.
U.S. retail sales rose 0.6% last month following a revised increase of 0.5% in July, according to the latest data from the U.S. Commerce Department. Economists' consensus calls projected an increase of 0.2% in August’s headline number.
Core sales, which strip out vehicle sales, were up 0.6% last month, above market expectations of a 0.4% print. The report’s control group, which strips out autos, gas, building materials, and food services, advanced 0.1%, in line with expectations. Spot gold dipped slightly from $1,907.65 just before 8:30 am EDT to session lows of $1,901.51 in the minutes following the release, and last traded at $1,902.79, down 0.28% on the day.
France Dernières Nouvelles, France Actualités
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