MW: Gold heads up, oil extends loss after retail sales
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- Gold futures turned higher Wednesday, while oil futures extended their earlier losses as traders digested news that U.S. retail sales fell and producer prices saw their biggest drop in almost three years in May. Gold for August delivery GCQ2 +0.58% rose $10, or 0.6%, to $1,623.80 an ounce on the Comex division of the New York Mercantile Exchange. July crude oil CLN2 -1.22% traded at $82.37 a barrel on Nymex, down 95 cents, or 1.1%. Gold was trading around $1,612 and oil was at about $82.80 before the data were released.
