Gold falls as dollar strengthens on retail sales - JB News Feed

Gold for December delivery fell $2.90 to $753.80 an ounce on the New York Mercantile Exchange. For the week, gold still gained $6.60, or 0.9%.

The gain came on news that U.S. retail sales for September came in a stronger-than-expected 0.6%. Economists surveyed by MarketWatch had been looking for total sales to rise 0.3% in September after a 0.3% gain in August.

"Gold prices retreated from Thursday's lofty peaks as a mild bounce in the US dollar tempered the bullish tone just a bit," said Jon Nadler, senior analyst at Kitco Bullion Dealers, in a note.



Posted by Posted by Jewelry News at Saturday, October 13, 2007 5:40 AM
Categories: gold, Pecious Metals
 

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