Gold Performance:
Spot gold is changing hands at $2662, up 0.05 per cent. The MCX February contract at Rs 76,945, up 0.08 per cent.
The metal is little changed on encouraging US retail sales (November) report that has followed a robust S&P US services PMI report released on December 16.
Data roundup:
US retail sales advance (November) came in at 0.7 per cent M-o-M as against the forecast of 0.6 per cent as the prior data was revised higher from 0.4 per cent to 0.5 per cent. Retail sales, ex-auto and gas, at 0.2 per cent trailed the forecast of 0.4 per cent, though the prior data was revised higher from 0.1 per cent to 0.2 per cent. Retail sales control group at 0.4 per cent matched the forecast.
However, industrial production (November) at -0.1 per cent underwhelmed as it lagged the 0.3 per cent forecast.
Germany's data were mixed as IFO expectations (December) came in at 84.4 (forecast 87. per cent), whereas ZEW Survey expectations (December) at 15.70 topped the estimate of 6.90. The Eurozone's ZEW survey expectations improved from 12.50 in November to 17 in December.
The UK's employment report was strong as average weekly earnings 3M/Y-o-Y (October) at 5.2 per cent beat the estimate of 4.6 per cent as the prior data was revised slightly higher. Employment change 3m/3m rose to 173K, compared to the expectation of 5K as previous data was revised higher. NAHB housing market index at 46 lagged the estimate of 47.
