MCX Gold Tips Today: Gold Prices Holding Well Above $1855

MCX Gold Tips Today: Gold prices holding well above $1855 inched higher in morning session but still hovered around a recent low, after a jump in U.S. retail sales kept the dollar close to a 16-month high.

Yesterday gold prices drifted lower as the dollar surged on upbeat industrial production and retail sales data, the dollar index climbed to 95.90, gaining more than 0.5% over the previous close. According to a report released by the Commerce Department, retail sales spiked by 1.7% in October after climbing by an upwardly revised 0.8% in September. Economists had expected retail sales to jump by 1.4% compared to the 0.7% increase originally reported for the previous month.6009:09 AM

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