Posted 1/17/2024, 10:29:00 PM
Gold, Silver Prices Drop As Upbeat Retail Data Tempers Rate Cut Hopes; China Growth Slowest in Decades
- Gold and silver prices sink after better-than-expected US retail sales report
- China reports slowest economic growth in decades amid weak consumer confidence
- Upbeat retail sales data tempers market expectations for imminent Fed rate cut
- China's 4Q GDP meets government expectations but still below market forecasts
- Technically, gold hits 5-week low while silver poised for 2-month closing low