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05-13-2016, 04:37 PM
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Gold Not Spooked On Freaky Friday (http://info.kitco.com/correction-gold-not-spooked-on-freaky-friday)



Friday the 13th can't keep gold down nor can today's retail news do the trick.

Americans are buying again. That's what Friday's U.S. retail sales suggest at least. The Commerce Department said on Friday that retail sales jumped 1.3% last month, the largest gain since March 2015.

Good news for the economy, while not really affecting gold.

At first, gold prices erased overnight gains in the immediate aftermath of the upbeat U.S. retail sales report. The firmer U.S. dollar index today was also hurting gold. The dollar hit a two-week high, posting its best performance since February and making dollar-denominated assets, such as gold, more costly for holders of other currencies. Gold prices then took a turn with buyers stepping in on the dip.

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