Gold Prices Rebound on Eased Rate Hike Expectations and Weak Retail Sales

Gold prices have been volatile in recent times, but expectations for Federal Reserve rate hikes have eased, providing support to the metal.

The spot gold price rose briefly to around $4,400 per ounce during early Asian trading on Monday, according to Moomoo. This rebound is attributed to alternating patterns of significant gains and pullbacks following the release of inflation data.

U.S. retail sales fell 0.6% month-on-month in July, missing both the revised 0.2% increase in June and market expectations. The decline in retail sales has led investors to reassess the sustainability of consumer spending in the second half of the year.