The latest retail sales report indicates that consumer spending slowed significantly in April, reversing a pre-tariff spending surge seen in March. Analysts attribute this decline to the impact of higher tariffs that took effect in April. According to data, U.S. retail sales rose only 0.1% last month, reflecting a pullback by American consumers. This trend highlights the ongoing sensitivity of consumer behavior to economic policies such as tariffs. Spot gold prices also reacted positively to the slower-than-expected retail sales figures.
— new from Barron’s