SINGAPORE, Reuters (15/01) - 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. The Federal Reserve should bring its bond-buying program to a swift close, according to two of its most hawkish policymakers who take up voting power this year, with one vowing to use his vote to support cuts to the program even if stocks take a tumble. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 3.56 tonnes to 789.56 tonnes on Tuesday. |
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