Updated from 11:37 a.m. EST
A gloomy retail sales report undermined the greenback Tuesday and gave an early boost to gold futures, but the rally fizzled out amid severe overhead technical resistance.
Contracts for April delivery of bullion closed down 90 cents at $649.40 an ounce on the Comex division of the New York Mercantile Exchange. The exchange-traded funds that hold the metal were lower also, with streetTracks Gold Shares(GLD Quote) and iShares Comex Gold Trust (IAU Quote) down 0.1%.
Retail sales grew less-than-expected in January, according to a new report from the Commerce Department. Worse still, when the automobile component is excluded, the data show a drop in sales during the period. While some commentators tried to brush off the figures as a weather-related aberration, not everyone is convinced. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
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DOWN
154.48
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DOWN
19.14
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37.61
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SPDR Gold
115.06
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-1.72%
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