Gold And Silver Move Higher On Slowing Retail Sales Report

GOLD

The January U.S. retail sales contracted by 0.8% compared to December, marking the largest decline since March of 2023. This report took the Gold price back over the key $2,000 level as demand increased. Gold reached a high of $2,009 before seeing light selling. At 11am PT today, Gold is trading at $2,004 per ounce, up $12 on average volume.

SILVER

Silver rallied on the retail sales news and briefly broke above the $23 level before seeing selling. At 11am PT today, Silver is trading at $22.90 per ounce, up $0.56 on excellent demand.