GOLD REMAINS ON ITS BACK FOOT AFTER STRONG US RETAIL SALES

GOLD REMAINS ON ITS BACK FOOT AFTER STRONG US RETAIL SALES
GOLD REMAINS ON ITS BACK FOOT AFTER STRONG US RETAIL SALES

GOLD REMAINS ON ITS BACK FOOT AFTER STRONG US RETAIL SALES

Gold (XAU/USD) failed to rise above $2,665 and resumed its downward trend as the U.S. dollar strengthens.

Strong U.S. retail sales in November and better-than-expected economic data are boosting expectations of a "hawkish" rate cut by the Federal Reserve.

Investors expect the Federal Reserve to cut rates on Wednesday but remain cautious about a hawkish tone, which could push U.S. Treasury yields higher.

Gold is facing downward pressure, approaching support at $2,630, as expectations of steady U.S.

economic growth and rising inflation act against it.