Gold Prices Dip as Strong Retail Sales Data Reduces Likelihood of Fed Rate Cut The gold price (XAU/USD) is under pressure following the release of strong U.S. Retail Sales data for December, which exceeded expectations. Retail sales increased by 0.6%, surpassing the forecasted 0.4% and the previous month’s 0.3%. Excluding automobiles, sales rose by 0.4%, also exceeding predictions. This robust economic data reduces the likelihood of an interest rate cut by the Federal Reserve (Fed) in March. Further, a hawkish statement from Fed Governor Christopher Waller has raised doubts about a potential rate cut, as Fed policymakers favor keeping interest rates high, given the uncertainty about inflation returning to the 2% target. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts World Gold Council: Gold ETF Flows: March 2024 READ MORE China's Gold Reserves Climb as Market Faces Mixed Demand Dynamics READ MORE Investor Confidence Shifts: A Closer Look at the 'No Landing' Economic Forecast READ MORE Global Creditors Deeply Concerned with Debt Relief Ratings READ MORE Fed's Powell Cautious on Rates, Inflation Data to Guide Future Decisions READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment