TSX:SGLD - Post Discussion
Post by
GoldenPolarBear on Mar 15, 2023 11:30am
“…U.S. retail sales drop in February 🇺🇸
"...
Gold price at daily highs as U.S. retail sales drop in February..." https://www.sabre.gold/
I wasn't expecting this regarding a retail sales drop & yet Sabre Gold Mines drifts in the grey doldrums and the shares are near all-time LOWS!
https://www.kitco.com/news/2023-03-15/Gold-price-near-daily-highs-as-U-S-retail-sales-drop-in-February.html
"... “The fall in retail sales in February only partly reversed the 3.2% surge in January. But there is a risk that, to the extent the unseasonably mild weather played a role in the opening two months of the year, that impact will be unwound as the weather returns to seasonal norms in March,” Hunter said Wednesday. “A loss of confidence in the wake of the SVB collapse could also hit spending this month.”
Immediately after the data release, gold held near its daily highs after already registering solid early-morning gains. April Comex gold futures fell last traded at $1,928, up 0.89% on the day.
Aside from slowing retail sales activity, gold was also reacting to fears that the banking crisis was yet to be contained. European banking stocks shares tumbled Wednesday, with markets shaky after Credit Suisse shares dropped more than 20%...." https://www.sabre.gold/
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