Gold price trades at $4,340/oz after retail sales rise 1.2% in August

(Kitco News) - The gold market is trading near session highs after the latest data showed American consumers’ spending rising more than expected last month.U.S. retail sales rose 1.2% in August following an unrevised reading of -0.6% in July, the U.S. Commerce Department announced on Wednesday. The data was better than expectations, as the consensus of economists projected a 0.8% increase in August’s headline number.