Gold back to 1242 on Stronger U.S. Equities

Gold retreated for a second session on Wednesday, moving further away from a one-month high, as a rally in stock markets prompted by strong U.S. retail sales data dented the metal’s appeal as a safe haven.

Spot gold eased 0.1 percent to $1,243.19 an ounce by 0011 GMT. It touched a one-month peak of $1,255 early on Tuesday before ending the day 0.7 percent lower.

U.S. retail sales edged up in December with a core spending gauge posting a big jump, a sign the economy gathered steam at the end of last year and was poised for stronger growth in 2014.

CNBC

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