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Gold traded lower on Friday
within the range against the U.S. macroeconomic
According to published reports, the retail and food sales rose 0.1% to a seasonally adjusted 419.30 billion, the Commerce Department said on Monday. This is 3.7% higher than a year ago. These were higher than economists' expectations. Forecast assumes a 0.3% decline. Retail sales are a key component of consumer spending, which accounted for over two-thirds of demand in the U.S. economy. Spending at gasoline stations fell by 4.7% - this is the largest decline since December 2008, which reflected the decline in gasoline prices in April. Decline will continue during the summer holiday season.
Another Commerce Department report showed that up to March, the amount of inventories remained unchanged, indicating that the business remains tuned uncertainty regarding the strength of economic recovery.
According to the report, the seasonally adjusted volume of reserves remained unchanged at $ 1.270 trillion, unchanged compared with February. Note that according to the average forecasts of experts, the value of this index would grow by 0.3%. In addition, it was reported that total sales of U.S. companies fell during the month of March by 1.1%.
The cost of the June gold futures on COMEX today dropped to 1424.70 dollars an ounce.
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