FXS: Gold tumbles as Dollar rallies after retail-sales
FXstreet.com (Barcelona) - Gold rally from Yesterday's low at $1,126 oz has been capped at $1,142 oz and the XAU/USD has tumbled to $ 1,132 oz area on Dollar strength after larger than expected increase on U.S. retail sales.
U.S. Retail sales have increased at a 1.3% pace in November, beating expert's forecasts of a 0.6% advance, while, excluding automobiles, retail sales have advanced 1.2% on the month.
The Dollar has soared across the board on retail sales data, with EUR/USD has dropped from 1.4770 to 1.4725, while the GBP/USD pulled down from intra-day high at 1.6340 extended to 1.6265, and the USD/JPY extended recovery with a jump from 88.80 to session high at 89.40.
