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    14.07.2015 15:22 Gold recovers losses after the release of the weaker-than-expected U.S retail sales data

    Gold recovered losses after the release of the weaker-than-expected U.S retail sales data. The U.S. retail sales unexpectedly fell 0.3% in June, missing expectations for a 0.3% increase, after a 1.0% gain in May. May's figure was revised down from a 1.2% rise.

     

     

    The decline was partly driven by lower automobiles and clothing stores purchases. Automobiles sales fell 1.1% in June, while sales at clothing retailers slid 1.5%, the largest fall since September 2014.

     

     

    Retail sales excluding automobiles decreased 0.1% in June, missing forecasts for a 0.5% rise, after a 0.8% gain in May. May's figure was revised down from a 1.0% increase.

     

     

    Market participants are awaiting a speech by the Federal Reserve Chair Janet Yellen tomorrow. Yellen said on Friday that she expects the interest rate hike by the Fed at some point this year. But she added that the U.S. labour market remains week.

     

     

    August futures for gold on the COMEX today declined to 1154.60 dollars per ounce.

     

     


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