Gold mostly holding gains ahead of US retail sales report

At 1.30pm GMT the US will release the most important data of the day and that is the October retail sales report. The markets are not expecting much in the way of an increase last month. Sales are forecast to rise by 0.3% compared to a 0.4% gain in September. Also out at the same time is the November Empire (New York region) manufacturing index, where an improvement is expected. Ahead of this Gold has been mostly holding the gains notched up yesterday afternoon. As covered here at the time, that saw the metal rebound from a fresh interim low, at $2,536.92. Gold closed last night at $2,564.58. The high seen earlier today was set at $2,571.74. The earlier session low was set at $2,554.58. As per yesterday, the metal will be tracking how those US yields fare this afternoon and they could be impacted by that US sales data. Gold is currently trading at $2,567.20