Gold Prices Slip

Gold prices tumbled during the Asian trading hours even after low retail sales data from the U.S. implied in that interest rate reductions from the Federal Reserve are more likely.

Numbers indicated that retail sales in the U.S. retreated by 0.3% in September, which is the largest decline since last November.

Presently, the precious metal trades at $ 1491.05, which is a minor rise of $1.67 or 0.11% from the previous close of 1489.38.

The daily range is from $1487.03 to 1492.96, while the trading volume is 64.371K.

Chicago Fed President Charles Evans reported overnight that “we need to err on the side of providing aggressive enough accommodation to get inflation moving up with some momentum.”

Brexit developments are still in the main focus. The BBC announced that London and Brussels will not come to an a Brexit agreement today.

Gold chart today