Global gold prices recorded the largest decline in 5 weeks after the release of economic data

Constant changes in gold prices

Global gold prices recorded the lowest settlement price in 5 weeks at the end of the trading session on Wednesday, with the strength of the US dollar and the release of economic data.

Upon settlement, gold futures fell by 1.1%, or $20.10, to $1,845.30 an ounce, the lowest settlement price since January 5.

Economic data in America today revealed an increase in retail sales by 3%, a level that exceeded expectations at 1.9%.

The US dollar index rose to a one-month high on Wednesday.

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