Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
experience buying and selling
Rare Coin and Precious Metals.
We have the knowledge and
ability to provide our customers
with the best products and services.
Gold hits two-week high as weak U.S. data lifts likelihood of Fed pause
-Reuters
"Gold rose to its highest in two weeks on Friday after weak U.S. economic data compounded concern over a global slowdown and dialed down the chances of the U.S. Federal Reserve raising interest rates this year. 'The weak retail sales data from the U.S. in the previous session falls in line with general expectations that the Fed will not be pushing through with monetary tightening as hard as they were planning,' said SP Angel analyst Sergey Raevskiy. Gold gained 0.5 percent in the previous session after weak U.S. retail sales data, along with soft inflation numbers on Wednesday, added to disquiet about slowing growth, which could allow the Fed to hold interest rates steady for a while. The disappointing U.S. data followed a spate of weak economic reports from China and Europe. This helped gold to hold its ground amid a slight rebound in the dollar."
