Gold and silver prices edged up on Wednesday as U.S. Treasury yields fell, following data showing a slowdown in December retail sales, a sign of a cooling economy ahead of key jobs data. Spot gold rose 0.3% to $5038.73 per ounce. U.S. gold futures for April delivery climbed 0.6% to $5060.60. Silver gained 1% in spot trading to $81.49, after plunging more than 3% in the previous session. U.S. bond yields retreated on Tuesday after a series of data suggested the economy might be slowing, giving the Federal Reserve more room to cut interest rates. U.S. retail sales unexpectedly stagnated in December as households cut back on spending on cars and other pricey goods, potentially putting consumer spending and the economy on a slower growth track as the new year begins. Investors are awaiting the January nonfarm payrolls report, due later on Wednesday, and inflation data on Friday. Other precious metals also saw gains, with platinum rising 0.6% to $2098.78 in spot trading, and palladium climbing 0.2% to $1712.25.
