Retail Sales in the US outperformed expectations. Economists at TD Securities analyze Gold’s outlook following the data.

Traders continue to sell into the soft-landing theme

Gold prices are coming under further pressure as Retail Sales data surprised to the upside, following the better-than-expected CPI data on Wednesday. 

Traders continue to sell into the soft-landing theme amid fears of higher-for-longer rates. In this sense, the continued upside data surprises will further strengthen and compound these fears and keep the precious metals complex on the back foot.