Gold finishes in green for 1st time in 6 sessions

Gold prices consolidated their gains at settlement today, Feb. 15, as the US dollar declined as markets absorbed the recent US economic data.

Bullion for April delivery increased 0.55%, or $10.60, to finish at $2,014.90 per ounce, marking the yellow metal’s first gain since Feb. 7.

Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, plunged by 0.35% to 104.34 points at 09:27 pm Makkah time.

Data from the US Bureau of Statistics showed that retail sales shed 0.80% on a monthly basis to $700.3 billion in January, against expectations of a 0.2% decline, implying the impact of monetary tightening will be transmitted to the real economy.

Elsewhere, data from the US Labor Department revealed that initial jobless claims decreased by 8,000 to 212,000 applications in the week ended Feb. 10, versus expectations of a drop to 219,000.