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Gold prices adjusted in early trading after falling to the weekly wage on the eve on the background of strong statistical data on retail sales in the U.S.
The fall of the value of gold due to the eve of which turned out better than analysts' expectations of macroeconomic statistics from the U.S., which led to an increase in investor interest in U.S. currency as a safe asset. On Monday it was reported that retail sales in March in the country grew by 0.8% compared with February. The analysts were expecting sales growth of 0.3%.
At the same time, investors remained concerned about the economic situation in the euro area, particularly in Spain. On the eve of the rate of return on ten-year government bonds of the country exceeded the psychologically important level of 6%. So on Tuesday the attention of bidders is focused on the placement of the Spanish Treasury bills with maturities of 12 and 18 months worth of 3 billion euros. Spain's Ministry of Finance sold on Tuesday the 12 - and 18-month bonds worth 3.2 billion euros, slightly exceeding the target amount of 2.3 billion euros. In addition, the economic expectations in Germany improved in April compared with March, according to research institute ZEW.
May futures on the COMEX for gold today rose to $ 1655.8 an ounce and then dropped to $ 1635.0 an ounce.
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