Gold Jumps To Highest Level Since September
Gold futures rose on Friday, extending strong weekly gains after tame US inflation data.
The Federal Reserve is widely expected to keep interest rates on, in the first quarter due to stubbornly low inflation.
In fact, today, New York Fed President William Dudley said that a “boring” 2018 in terms of monetary policy. The Fed increases the planned three modest interest in the course of the year.
Feb. gold rose $12.40, or 0.9%, to settle at $1,334.90/oz., the highest level since September.
The Commerce Department said that retail sales climb 0.4 percent in December after an upwardly revised 0.9 percent in November.
Economists had expected retail sales to rise 0.4 percent compared to 0.8 percent increase originally reported for the previous month.
Without auto sales, retail sales rose 0.4 percent in December after a jump of 1.3 percent in November. The increase in ex-auto sales also matched estimates.
A separate report from the labor Department showed consumer prices rose less than expected in December, what prices to a sharp setback in the energy.
The consumer-price index crept to climb up by 0.1 percent in December after a 0.4 in November. Economists had expected prices rose by 0.2 percent.