Gold & Silver Shrug Off “Expectation Exceeding” October Retail Sales Report

After a drop in retail sales in September, October retail sales only increased by 0.3%. Here are the details…

(Silver Doctors Editors) Here’s what expectations looked like going into the October report:

Seems like “treading water” would be the proper way to label the consensus expectations.

Here’s the actual Retail Sales Report, just released:

Pretty much in line with expectations.

The MSM propagandists are quick with the spin however.

From Bloomberg:

The reading signals consumers remain willing to spend, though at a slower pace than earlier this year, as the robust jobs market and solid wage gains offer reasons for Americans to remain upbeat. Consumers have driven the economy forward in recent quarters, and Friday’s data suggest the trend may continue in the fourth quarter.

 Federal Reserve Chairman Jerome Powell reiterated this week that the labor market is strong, following an October jobs report that showed payroll gains intact and the jobless rate still near a half-century low. Solid employment would continue to underpin consumer spending.

Gold and especially silver have been under pressure all night.

Here’s a look at the monetary metals when the report hit the tape:

The price action was minimal, but at least we didn’t get the typical Friday 8:30 a.m. COMEX opening smash.

There is still, however, a full trading day left in the “markets”.