{"id":52626,"date":"2014-06-11T08:33:25","date_gmt":"2014-06-11T12:33:25","guid":{"rendered":"http:\/\/countingpips.com\/?p=52626"},"modified":"2014-06-11T09:55:38","modified_gmt":"2014-06-11T13:55:38","slug":"gold-prices-rises-before-us-retail-sales-release","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/gold-prices-rises-before-us-retail-sales-release\/","title":{"rendered":"Gold Prices Rises before US Retail Sales Release"},"content":{"rendered":"
June 11, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Gold prices continues to trade higher on Wednesday on the European Central Bank\u2019s (ECB) rate cut made last week, while investors focus on the release of the US retail sales data due on Thursday. Bullion added 0.26% to 1,263.40 on the Comes in New York at the time of writing, after reaching $1,264.90 earlier during the session. While silver edged 0.38% higher at $19.249, after futures for the metal for July delivery climbed to $19.275.<\/span> The yellow metal climbed as much as 1.5% since the European Central Bank made its cut on the bank\u2019s rates last week, trimming its main refinancing repurchasing rate to 0.15% and the deposit rate to minus 0.1%. “Gold has managed to get out of its recent $1,250-$1,255 range to trade $1,260-$1,265, getting to its highest level in almost two weeks after the recent decline to a four-month low spurred physical purchases,” Michael van Dulken, head of research at Accendo Markets, wrote in a note to traders Wednesday.<\/p>\n

US Retail Sales<\/span><\/h2>\n

The US data due tomorrow could either strengthen the greenback and inversely push the bullion down or drag the US dollar lower and lift the metal\u2019s prices. The headline retail sales for May is expected to show a rise of 0.5% in May, compared to the 0.1% rise seen in the previous month. While the core retail sales for May is forecasted to rise 0.4% higher. Gold fell by 28% last year on speculations that the Federal Reserve would scale its monthly bond purchases. The central bank has made four straight cuts at each of its policy meeting since January and expected to make a fifth cut at its next policy meeting scheduled for June 17- 18.<\/p>\n

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The post Gold Prices Rises before US Retail Sales Release<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>

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By HY Markets Forex Blog Gold prices continues to trade higher on Wednesday on the European Central Bank\u2019s (ECB) rate cut made last week, while investors focus on the release of the US retail sales data due on Thursday. Bullion added 0.26% to 1,263.40 on the Comes in New York at the time of writing, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-52626","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=52626"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52626\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=52626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=52626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=52626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}