Gold prices holding within striking distance of $1,800 as U.S. retail sales rise 1.3% in October
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The report's control group, which strips out autos, gas, building materials, and food services and feeds directly into GDP projections increased by 0.7%, beating expectations for a 0.3% gain. “While this data is stronger than anticipated, when combined with last week’s weaker-than-expected CPI report, the Fed should remain on track to slow the pace of interest rate hikes in December and deliver a 50bps increase,” said Karyne Charbonneau.
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