(Kitco News) - The gold market continues to consolidate in its new elevated range even as consumers continue to spend money, driving economic activity. Monday, U.S. retail sales jumped by 0.7% last month following a revised increase of 0.9% in February, according to the latest data from the U.S. Commerce Department. The data significantly beat expectations. Economists' consensus calls projected a 0.4% rise in March’s headline number. Core sales, which strip out vehicle sales, were up 1.1% last month, well above market expectations of a 0.5% increase, and compared to February’s revised increase of 0.6%. The solid economic data is having little impact on the gold market as prices continue to consolidate following its massive volatile moves Friday. June gold futures last traded at $2,370.10, down 0.17% on the day.
Neils Christensen
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @KitcoNewsNOW
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