15
July
Gold Rises as U.S. Retail Sales Gain Aids Demand; Silver Climbs
15 July 2009 Bloomberg.com
Gold advanced as rising U.S. retail sales brightened the economic outlook, boosting demand for bullion as an alternative investment and a hedge against inflation. Silver also gained.
June sales at U.S. retailers rose more than forecast from May, Commerce Department figures showed today in Washington. Prices paid to U.S. producers climbed 1.8 percent last month, the Labor Department said today. That was twice as much as projected. Some investors buy gold to preserve value when consumer prices accelerate.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aV6Cy8SdpzhQ
