FOX: Gold Trims Loss, Oil Firms After Retail Sales
NEW YORK -- Gold futures pared their loss after U.S. economic reports showed climbing retail sales but a sharp drop in a reading of New York-area business activity. Oil futures strengthened a bit. Gold for December delivery was down 90 cents at $1,364.90 an ounce. It traded at $1,361.60 ahead of the 8:30 a.m. data. Oil for December delivery was up 60 cents at $85.48 a barrel. It had traded at $85.45 a barrel ahead of the data. The Commerce Department said U.S. retail sales rose for the fourth straight month, climbing 1.2% in October and topping expectations, and the agency revised September and August sales higher. The New York Federal Reserve Bank said its Empire State manufacturing index plummeted to -11.1.
