US Retail Sales Drop 1% in March, Putting Pressure on Gold Prices.
TL;DR Summary
US retail sales dropped 1% in March, more than expected, leading to recession fears as consumers cut back on spending. However, the weaker-than-expected retail sales numbers are not having much impact on gold prices, which are under technical selling pressure after Thursday's rally to a fresh 13-month high. Markets still see roughly a 70% chance that the Federal Reserve will raise interest rates by 25 basis points in May, while also cutting rates by the summer.
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