Gold rallies to session high $4,387/oz after retail sales drop -0.6% in July - KITCO
Gold rallies to session high $4,387/oz after retail sales drop -0.6% in July - KITCO
Source: KITCO
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DW NOTE
The same consumer spending weakness that tanked retail sales is now driving a flight-to-gold trade—traders pricing in rate cuts while the Treasury still needs to borrow $200 billion a month. Gold is up 31.5% year-over-year, but it's still 17% below January's $5,318 high, which means this isn't panic, it's positioning.