June 14, 2019

Gold broke $1,350.00 this morning, reaching a 14-month high as weak economic data out of China showed industrial output grew only 5% in May, well below estimates and its lowest level in 17 years.  US retail data released today, showed consumer spending rose in May, and more importantly April’s numbers were adjusted to show much higher spending than originally reported.  While a sign of a healthy economy, stocks are down slightly on the strong retail data since it will most likely be an argument against cutting interest rates in next week’s Fed meeting.