LONDON: Gold rose on Monday because the greenback edged decrease as expectations dwindled that the Federal Reserve will increase rate of interest this yr.
Knowledge on Friday confirmed US retail gross sales have been unexpectedly flat in July, signalling a moderation in shopper spending. Spot gold was up zero.three per cent at $1,339.eighty three an oz by 1429 GMT.
The metallic rose as a lot as 1.3pc after the info on Friday, earlier than giving up features. US gold was up zero.2pc at $1,345.30 an oz.
Spot gold remained inside attain of a greater than two-yr excessive of $1,374.ninety one hit final month as buyers sought refuge from volatility throughout monetary markets following Britain’s vote to go away the European Union.
Silver was up zero.6pc at $19.eighty one an oz. Platinum fell to a close to three-week low of $1,107.20 and palladium was down zero.1pc at $683.20.
Revealed in Daybreak, August sixteenth, 2016
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