The Thomson Reuters/University of Michigan preliminary sentiment index decreased to 93.6 from a final January reading of 98.1 that was the highest since the start of 2004, figures showed Friday. A report on Thursday revealed that sales at U.S. retailers fell more than forecast in January.
Gold dropped 29 percent in the previous two years, posting consecutive annual losses for the first time since 1998. Faster U.S. expansion prompted some investors to lose faith in the metal as a store of value amid speculation that the Federal Reserve would raise interest rates. Prices rebounded 8 percent in January as slowing foreign economies cast doubt that American growth would remain resilient.
Gold futures for April delivery climbed 0.5 percent to settle at $1,227.10 an ounce at 1:38 p.m. on the Comex in New York. Yesterday, the price rose 0.1 percent.
This week, the price dropped 0.6 percent, the third straight decline.
Silver futures for March delivery jumped 3 percent to $17.294 an ounce, the biggest gain for a most-active contract since Jan. 16.
Sumber : ewfpro.com
