Eliman Dambell
Tradeview Markets
Retail sales in the United States rose higher than expected in December, as consumers spent heavily during the holiday season.
Figures from the Commerce Department showed that sales rose by 0.6% last month, higher than an expected increase of 0.4%.
This was also better than a 0.3% gain in November, and has helped boost the economy, despite potentially jeopardizing a potential Fed rate cut in March.
The rise was mainly due to spending at online retailers, which saw a 1.5% spike in sales.
XAUUSD fell to a low of $2,001.81, its lowest point since December 13th.
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