Daily Gold Update

Source:Bill Musgrave, American Gold Exchange

AustinGold was little changed, edging down less than 0.1% to close below $1,314 before recovering after hours, as the dollar fell on weak US data and reports that President Trump will sign a budget deal.

Retail sales fell in December by the most in nine years, according to a delayed report from the Census Bureau, raising questions the economy's continued expansion. First-time jobless claims increased last month to a one-year high, suggesting that the historically-strong labor market might be running out of gas.

Stocks declined on the downbeat data, with the Dow and Global Dow both dropping around 0.4%. The dollar also slipped against major rivals, with the ICE Dollar Index losing 0.2%.

President Trump will reportedly sign the compromise bill to prevent another government shutdown. Because the deal includes only 25% of the funding requested for his wall on the Mexico border, the President has signaled that he will declare a national emergency to appropriate the resources, which may provoke a legal battle.

The other precious metals were mostly lower, with silver and platinum losing 0.8% and 0.3%, respectively, while palladium added 1%.

At the Comex close: April gold dipped $1.20 to $1,313.90; March silver dropped fell 12 cents to $15.53; April platinum slid $2.60 to $789.20; and March palladium rose $13.30 to $1,385.90 an ounce, another record close.