Bloomberg: Gold Gains as Slower U.S. Retail Sales Fuel Bets on Fed Stimulus

Gold gained for the fifth time in six sessions in New York as U.S. retail sales rose less than expected in June, boosting speculation the Federal Reserve will maintain stimulus measures to shore up economic growth.

Retail sales climbed 0.4 percent, half the median forecast in a Bloomberg survey of economists, government figures showed today. Sales were unchanged excluding the biggest jump in automobile purchases since November. Bullion futures rose 5.4 percent last week, the most since October 2011, after Fed Chairman Ben S. Bernanke said highly accommodative monetary policy is still required for the foreseeable future.

Read more...