14 December 2010

Gold slips back below $1,400 after good US retail sales data

US retail sales rose above forecast as holiday shopping got under way.

A suprise rise in US retail sales boosted the dollar at lunchtime in London, causing precious metals to give back all the gains made during the morning session.

A rise of 0.8% following a previous rise of 1.7% gave at least temporary respite to the battered US currency.


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