Slowing US economy pressure Greenback

On Thursday gold climbed while the popular greenback declined on inadequate economic data released from the United States. That fact alone reinforced expectations that the FED would probably hold to its dovish position on monetary policy this year. The dollar fell shortly after the data, which increased the concerns of economic retardation.

The dollar index slipped and pulled down by a series of bitter U.S. data, with retail sales posting their largest decline in almost a decade in December and weekly jobless claims recording an improvement.

Spot gold went up more than 0.4% to $1,311.95 per ounce while the ET. U.S gold futures ended $1.19 lower at $1,313.89.

On Friday, Main Asian stock markets finished lower after the release of U.S. retail data. The release increased the anxieties covering the retraction in the U.S economy. Traders anticipate some positive improvements regarding the continuing U.S-China trade discussions in Beijing.

Mainland Chinese markets witnessed declines while the Shanghai composite slid more than1.3% to finish at 2,682.37. The Shenzhen component sank more than 1.1% to close its trading day at 8,125.62.