Gold Prices Edge Higher as Retail Sales Disappoint

Gold futures rose on Friday after July retail sales came in lower than expected. The data reinforced market expectations that the Federal Reserve will keep interest rates steady in September.

July retail sales fell by 0.6% compared to the previous month, which was a surprise to analysts who had predicted a slight increase.

The disappointing sales figures were enough to cause gold prices to edge higher, as investors continued to bet on a rate hold from the Fed.