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 Despite High Inflation Reports, Fed's Barkin Eyes Future Rate Normalization with Caution READ MORE Bank of Japan Takes Center Stage in Crucial Week for Global Markets READ MORE US Dollar Dominates Amid Global Economic Shifts READ MORE Fund Managers Shy Away from Gold Despite Record Prices READ MORE ECB Lowers Rates for First Time Since 2019 Amid Inflation Concerns READ MORE Add a Comment Cancel replyYour email address will not be published.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