Gold Price Outlook Faces Headwinds as US Retail Sales Exceed Expectations

US Retail Sales Exceed Projections, Impact on Gold Examined by TD Securities

Gold prices are encountering additional headwinds as Retail Sales data in the US has surpassed expectations, marking another notable development following the favorable CPI data released on Wednesday.

Traders persist in adhering to the notion of a gradual economic slowdown, contributing to concerns about sustained higher interest rates. Consequently, the ongoing stream of upbeat data releases is expected to reinforce and intensify these apprehensions, thereby keeping the precious metals market in a precarious position.