Gold prices rose Friday morning and were poised to snap a modest losing streak as traders rushed back into safe haven assets.
U.S. stocks were set for a beating this morning, with the Dow futures down about 300 points on collapsing oil prices.
Crude oil for February was down $1.83 a barrel at $29.38 a barrel, the lowest since 2003.
At the same time, gold was up $10 at $1085 an ounce, moving back toward multi-month highs from earlier in January.
The Commerce Department is due to release its retail sales report for December at 8:30 am ET.
The Labor Department will release a key inflation report. Economists expect producer prices to have edged down 0.1 percent month-over-month in December.
The material has been provided by InstaForex Company – www.instaforex.com