U.S. retail sales miss expectations in April, gold price trades under pressure

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(Kitco News)The gold market edged up but largely ignored retail sales coming in short of market expectations in April, which showed consumers slowing their activity.

U.S. retail sales rose 0.4% last month following a downwardly revised drop of 0.7% in March, according to the latest data from the U.S. Commerce Department. Market consensus calls expected an increase of 0.8% in April’s headline number.