A Weak U.S. Dollar and U.S. Retail Sales Cause Rally in Gold and Silver

GOLD

Gold continues its rally today due to a weakening U.S. dollar. Data on U.S. retail sales were weaker than expected, which shows more evidence of inflation receding, but renewed concerns for a recession in 2023. At 11am PT today, Gold is trading at $1,924 per ounce, up $18 on good volume.

SILVER

Initially, Silver fell after news of U.S. retail sales, but it followed after Gold in a rally with a weakened U.S. dollar. At 11am PT today, Silver is trading at $23.83 per ounce, up $0.18 on good volume.