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ir finance Notable (6/10) ·

Gold Nears $4,400 as Weak Retail Sales Data Sinks Rate Hike Odds

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Gold Nears $4,400 as Weak Retail Sales Data Sinks Rate Hike Odds
July retail sales fell 0.6%, the biggest monthly drop since May 2025, and gold jumped near $4,400 an ounce on bets the Fed stays put in September. Treasury yields rose anyway, and Iran's refusal to negotiate over the Strait of Hormuz is adding a geopolitical premium the Fed can't control.

Gold pushed toward $4,400 an ounce Monday, extending a two-week rally after the government's July retail sales report landed far worse than Wall Street expected. Spot gold traded at $4,391.60 an ounce at 10:50 a.m. in Singapore, up 0.4% on the day, according to Bloomberg.

The US Census Bureau said Friday that retail sales dropped 0.6% month-over-month in July, the steepest one-month decline since May 2025.

Sources used for this briefing

6 links from 6 independent newsrooms (syndicated copies of the same report count once)

These are the sources it draws on, linked so you can verify.

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livemintGold Rises to Near $4,400 as Weak Retail Data Weighs on Dollar | Stock Market News
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KuCoinU.S. retail data declines, storage chip stocks rise amid AI funding concerns
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mitradeGold gains momentum to near $4,400 as Fed hike expectations drop despite Us-Iran tensions
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fxstreetGold gains momentum to near $4,400 as Fed hike expectations drop despite Us-Iran tensions | FXStreet
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tmgmGold rallies as weak US data dents Fed hike bets - TMGM
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businesstimes.com.sgGold rises towards two-month high of US$4,400 as weak US retail data weighs on US dollar