Peter Hug

Friday July 14, 2017 08:12

(Kitco News) - Metals higher ahead of a spate of U.S. economic news today. U.S. CPI and retail sales numbers will be closely analyzed for signs of continuing growth in the U.S. economy and for signals on inflation. We suspect the pop in gold back over the $1,220 level may still be attributable to short covering ahead of the data. Gold may see a $1,227 print today, if the $1,220 level can hold through the data release. A break below $1,220 brings in an intra-day print as low as $1,212 but the metals are unlikely to drop significantly into the weekend.