MTECHTIPS;-Gold Edges Up as Weak Retail Sales Data, Trade Fears Weigh on Stocks

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MTECHTIPS;-Gold Edges Up as Weak Retail Sales Data, Trade Fears Weigh on Stocks

MTECHTIPS-Gold prices inched up on Thursday, as weaker-than-expected U.S. retail sales figure and concerns over trade tensions weighed on equity markets. Gold futures for April delivery on the Comex division of the New York Mercantile Exchange gained $1.6, or 0.12%, to $1,327.20 a troy ounce by 12:30 am ET. In the latest personnel shakeup, U.S. president Trump decided to appoint Larry Kudos as the top economic advisory. Kudos, previously known as a free trade advocate, reportedly said that China would be the target for tariffs, which increased the prospects of a U.S.-China trade war. Meanwhile, U.S. retail sales unexpectedly fell 0.1% in February, compared to the estimate of a 0.3% growth. The dollar remained soft against other currencies, with The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 89.64, down 0.12%. The sentiment for the greenback remained bearish this week and the index dropped below the 90 mark