Gold dips as core retail sales sparkle

| March 11, 2019

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Gold has started the week with losses. In Monday’s North American trade, the spot price for one ounce of gold is $1292.74, down 0.47% on the day. In economic news, retail sales rebounded in February. Core retail sales sparkled with a 0.9% gain, up from -1.8% in January. Retail sales improved to 0.2%, compared to -1.2% in the previous release. Both indicators beat their estimates. On Tuesday, the U.S. releases CPI numbers. Gold prices tend to move higher on geopolitical tensions, and the British parliament will be one such hotspot this week. On Tuesday, lawmakers will vote for a second time on the government’s withdrawal agreement on March 12. With no signs that this proposal will be different than the one which was shot down in parliament in January, the vote could turn into a major embarrassment for the May government. If this latest proposal is rejected, parliament will vote the next day on two separate proposals.

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HiChina, Founded in 1996, Alibaba members-HiChina, is the leading internet application service provider in China. HiChina is devoted to provide comprehensive internet application service to enterprises, which covers domain service, hosting service, enterprise email system, website building for the enterprise, as well as consultation service of E-commerce to assist enterprise to realize application of E-commerce.

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