Gold hits $1,300 for first time since November
Gold has been climbing after today's disappointing US figures, and prices just hit a November 2013 high.
While 2013 was a year that saw gold prices in decline, they're now back up to $1,300/oz.
ABN Amro analyst Georgette Boele says that "the short-term drivers seem supportive for gold because we had quite a lot of weak US data over the past few weeks."
Retail sales failed to meet analyst expectations today, falling by 0.4 per cent in January. Consensus estimates suggested we'd see no change in sales this month.
Paul Dales, senior US economist at Capital Economics, said that some of the weakness in January's retail sales was probably due to the bad weather.
"GDP growth in both the fourth quarter of last year and the first quarter of this year could be a little weaker than we previously thought" says Dales.