Gold futures dropped Tuesday after upbeat U.S. economic data added to pressure from climbing rates in the benchmark 10-year Treasury, sending prices for the metal below the key $1,300 line to their lowest settlement of the year. Gold logged a sixth loss in seven sessions as those reports showed sales at U.S. retailers rose in April for the second straight month, adding to evidence the economy sped up after a slower start to the year. A separate report showed a sharp snap back in New York economic growth. June gold lost $27.90, or 2.1%, to settle at $1,290.30 an ounce. That was the lowest settlement for a most-active contract since late December and the largest one-day dollar and percentage loss since mid-December 2016, according to FactSet data. The retreat for gold also pushes the commodity below its 200-day moving average at $1,307.80 for the first time since late December. Exchange-traded funds logged sizable drops, the SPDR Gold Shares  traded down 1.7%, while the iShares Silver Trust shed 1.5%.  (source: marketwatch)