U.S. Retail Sales Rise 0.2% in June; Gold Struggles Below $4,000

According to the U.S. Commerce Department, U.S. retail sales rose 0.2% in June (Thursday), matching economist expectations. Core retail sales, which exclude vehicle purchases, fell 0.2% last month, below the forecast for an unchanged reading. Over the past 12 months, retail sales increased 6.7%.

Spot gold declined 1.43% on the day to $4,001.40 an ounce following the data release, struggling to hold support at the $4,000 level. Economists noted the mixed report still suggests consumers remain resilient, potentially allowing the Federal Reserve to pursue interest rate hikes by year-end.