In the course of trading in Europe approached the gold to its lowest level in nearly two weeks on the eve of the long-awaited report on retail sales, which are expected to be published on Thursday and will generate short-term expectations on interest rates in the market.
On the division of the New York Mercantile Exchange Comexzoloto December delivery dropped in price to a session low of $ 1316.60 per ounce, the minimum value since September 2 nd.
The US Commerce Department will release data on retail sales for August on Thursday, investors, meanwhile, continue to speculate on the potential timing of the Fed raising interest rates.
According to the median estimate of economists in the past month, the volume of retail sales decreased by 0.1%, unchanged in July. Core retail sales index is expected to fall by 0.2%, after falling 0.3% a month earlier.
The fall in retail sales suggests lower rates of economic growth, while the growth rate signals a strengthening economy. Consumer spending accounts for 70% of total US GDP.
Markets assess the probability of a rate hike at the Fed's meeting on 20-21 September in 15%, in line with the forecast for the Fed rate by Investing.com. The chances that this will happen in December, up about 56%.
Meanwhile, silver futures for December delivery rose 11.2 cents, or 0.59%, to $ 19.08 an ounce. futures price for copper rose 1.4 cents, or 0.64%, to $ 2.115 per pound
Based on materials WELTRADE