A slight rise for gold and silver with a decline in US Treasury bond yields

Gold and silver recorded a slight rise today, with US Treasury bond yields declining after data showed a slowdown in retail sales growth in December, an indication of a decline in the economy before the release of key jobs data.

Gold increased in spot transactions by 0.3 percent to $5,038.73 per ounce.

US gold futures for April rose 0.6 percent to $5,060.60.

Silver gained one percent in spot transactions to record $81.49, after falling by more than three percent in the previous session.

US bond yields declined yesterday, Tuesday, after a set of data indicated that the economy may be in a state of slowdown, giving the Federal Reserve (the US central bank) more flexibility to reduce interest rates.

US retail sales did not change unexpectedly in December, as households reduced their spending on cars and other expensive goods, which may put consumer spending and the economy on a slower growth path entering the new year.

Investors are awaiting the January nonfarm payrolls report, scheduled for release later Wednesday, and inflation data on Friday.

As for other precious metals, platinum increased in spot transactions by 0.6 percent to $2,098.78, and palladium rose by 0.2 percent to $1,712.25.