Markets· August 17, 2026 at 01:47 p.m.
Gold Prices Rise After Lower Retail Sales Report on August 17, 2026
Key takeaways
- Gold prices rose by 0.1% on August 17, 2026
- Retail sales decreased by 0.6% in July
- Consumer sentiment also declined in August
On Monday, August 17, 2026, gold prices opened at $4,440 per troy ounce, up 0.1% from Friday's closing price. The increase follows a weak retail sales report and a decline in the U.S. Dollar Index. Gold futures are currently trading at $4,440.10 per troy ounce. This morning's opening price represents a 2.4% weekly gain for gold.
Analysts had expected a retail sales gain of 0.1%, but the U.S. Census Bureau reported a 0.6% decrease in July retail sales. Consumer sentiment also pulled back after two months of higher ratings, according to the University of Michigan's Surveys of Consumers.
The weaker economic data reduces the risk of interest rate increases in the short term, which can support a higher gold price. However, ongoing conflict in the Middle East elevates inflation risk and could prompt safe-haven demand for gold.
Gold prices have been on an upward trend in recent years. If you had $1 million in 1900, you could buy 53,000 ounces of gold. Today, that amount would be worth $278 million.
