FinanceMarket

Gold rises in anticipation of US statistics 

The price of gold is rising on Tuesday morning against the backdrop of investors waiting for data on retail sales in the US, according to the data of the auction.
As of 8.25 Moscow time, the price of August gold futures on the New York stock exchange Comex grew by 3.15 dollars, or 0.22%, to 1,416.55 dollars per troy ounce. The price of September silver futures increased by 0.08% to $ 15.377 per ounce.
On Tuesday, investors expect to publish data on retail sales in the United States. Thus, according to analysts polled by Reuters, the volume of retail sales in the US in June rose by 0.1% in monthly terms.
“Today they are trying to neutralize us, because there will be data on retail sales. Investors fix their position, realizing that the reaction may be less again if retail sales figures turn out to be strong,” said agency’s opinion of Steven Innes, managing partner of Vanguard Markets Pte. ).
At the same time, the expert adds that he does not think that the data on retail sales “will be of great importance in the general state of affairs, since we are talking about the  Fed .”
The next meeting of the Federal Reserve System (FRS) of the United States will be held July 30-31. According to the CME Group, more than 72% of analysts expect a rate cut of 25 basis points from the current level of 2.25-2.5%, while other experts forecast a decline of 50 basis points. Traditionally, a change in the rate affects the dollar, to which gold is sensitive.

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