Gold Climbs Above $4,376 as July Retail Sales Fall 0.6% Reinforces Fed Hold
Updated
Updated · Kitco NEWS · Aug 14
Gold Climbs Above $4,376 as July Retail Sales Fall 0.6% Reinforces Fed Hold
3 articles · Updated · Kitco NEWS · Aug 14
Summary
Spot gold rose 0.60% to about $4,376.40 an ounce and silver gained 0.66% to $64.740 in early U.S. trading after weak July retail sales boosted expectations of a September Fed pause.
July retail sales fell 0.6% versus forecasts for a 0.1% increase, while sales excluding autos slipped 0.3%, adding to this week’s cooler CPI and flat PPI readings.
Market pricing now puts the odds of a 25-basis-point September hike at roughly 32% to 33%, down from nearly 50% a week ago, with the 10-year Treasury yield near 4.6% and the dollar index below 100.
Oil is limiting bullion’s upside: Brent traded near $88.50 and WTI near $82.80 as attacks on two UAE tankers in the Strait of Hormuz kept inflation and safe-haven risks in focus.
That leaves gold pulled in two directions—softer U.S. data support lower-rate expectations, while energy-driven inflation risk could keep Treasury yields from falling much further.