Gold and silver prices climbed on Wednesday as U.S. Treasury yields retreated following data showing a slowdown in retail sales growth for last December. This cooling consumer activity is seen as a sign of economic deceleration ahead of the release of key employment data.
- Spot Gold: Increased by 0.6% to reach $5,056 per ounce at the time of reporting.
- Gold Futures: U.S. gold futures for April delivery rose by 1% to $5,084.7.
- Spot Silver: Gained 2% to trade at $82.4, rebounding from a decline of more than 3% in the previous session.
U.S. yields fell on Tuesday after a batch of economic indicators suggested the economy may be slowing down. This shift provides the Federal Reserve with greater flexibility to consider cutting interest rates.
