Gold Pares Gain As U.S. Dec. Retail Sales Rise 0.4%
Editor's Note: Updating earlier story with more details from report, current prices.
Sales excluding autos were also up 0.4%.
The headline number was slightly below consensus expectations compiled by news organizations that had been for around a 0.5% rise in overall sales. However, sales for the prior month were revised upward from a gain of 0.8% to 0.9%.
December sales excluding autos were forecast to be up 0.3%.
As of 8:39 a.m. EST, Comex February gold was up $5.90 to $1,328.40 an ounce an ounce. Two minutes prior to reports on retail sales and the Consumer Price Index, the metal was up $9.60 to $1,332.10 an ounce.
On a 12-month basis, December retail sales rose 4.2%.
Consumer purchases make up the single largest component of U.S. gross domestic product, thus market participants closely monitor the data as a gauge of the economy.