Gold retreats on robust US retail sales data, but holds at 14-month peak [CNBC]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: CNBC
Gold retreats on robust US retail sales data, but holds at 14-month peak Leonhard Foeger | Reuters Gold prices retreated on Friday as upbeat U.S. retail sales somewhat eased fears that the economy was slowing down in the second quarter. Prices had jumped 1% earlier in the session on market expectations of at least two U.S. central bank rate cuts in 2019. Spot gold was up 0.4% at $1,347.01 per ounce. Prices rose to a high of $1,358.04, last touched on April 11, 2018. The metal was set to gain for a fourth straight week, up 0.8%. U.S. gold futures rose 0.5% to $1,350.80 per ounce. "Because of growing fears of a recession every participant is wondering is it time when gold is going to break out of this range, and trade substantially higher," said Daniel Ghali, commodity strategist at TD Securities. "At the same time expectations of a Fed cut are growing. Gold obviously performs well in that environment." Robust U.S. retail sales in May suggested a pickup in consumer spending that could e
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