Gold Drops to Near $1190 after U.S. Retail Sales Miss

Gold steadied away from a two-week low early on Wednesday after U.S. retail sales rose less than expected in March, but a recovering dollar could cap any rise in bullion prices.

Spot gold was flat at $1,192.93 an ounce by 0026 GMT, after touching its lowest in two weeks at $1,183.68 on Tuesday.  U.S. gold for June delivery was also little changed at $1,192.90 an ounce.

Markets are focusing on China’s gross domestic product data on Wednesday morning that could show the extent of slowdown in the world’s second-largest economy. China is also the world’s No. 2 gold consumer.

CNBC

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