TechFlow News, February 11: According to JIN10 Data, on Wednesday, both gold and silver prices rose. Spot gold surged over 1% to above $5,070 per ounce, while spot silver rebounded more than 5% after falling over 3% overnight, climbing above $85 per ounce. Earlier data showed U.S. retail sales stalled in December, prompting a decline in the U.S. dollar and U.S. Treasury yields—providing support for gold and silver prices. Kyle Rodda, Senior Market Analyst at Capital.com, stated, “Lower yields are clearly supporting gold today… Following the weak retail sales data, markets now anticipate the Federal Reserve may cut interest rates sooner and more aggressively than previously expected.” Tim Waterer, Chief Analyst at KCM Trade, noted in a report, “Whether for gold or the U.S. dollar, clearer directional trends may only emerge after the release of the nonfarm payrolls report; U.S. employment data will influence the Fed’s interest-rate path. Weak January jobs data would bolster gold’s upward momentum.”
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