[vi] Gold price hits $4,154/oz after retail sales rise 0.8% in September

[vi]

[vi] (Kitco News) - The gold market is trading near session highs after the latest data showed American consumers’ spending rising more than expected last month.

[vi] U.S. retail sales rose 0.8% in September following a revised reading of 1.3% in August, the U.S. Commerce Department announced on Thursday.

[vi] The data was better than expectations, as the consensus of economists projected a 0.3% increase in September’s headline number.

[vi] In annual terms, retail sales increased 6.3%, the report said, against expectations for a 5.2% rise and following August’s revised 5.6% increase.

[vi] Core sales, which strip out vehicle sales, rose 0.9% in August, well above the consensus for a 0.5% gain, and following August’s revised 1.4% print.

[vi] Spot gold was trading near session highs following the retail sales data, and last traded at $4,154.16 for a gain of 1.20% on the session.

[vi] !article image

[vi]

[vi] [Ernest Hoffman](/author/ernest-hoffman)

[vi] Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in Journalism from Concordia University. You can reach Ernest at 1-514-670-1339.

[vi] https://www.linkedin.com//in/ernesthoffman/

[vi] Tags:

[vi] U.S. retail salesCore Retail sales

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[vi] Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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