Spot Gold Rises 1.32% to $4,188 as US Sentiment Falls to 46.3
Updated
Updated · Kitco NEWS · Oct 9
Spot Gold Rises 1.32% to $4,188 as US Sentiment Falls to 46.3
3 articles · Updated · Kitco NEWS · Oct 9
Summary
$4,188.36 an ounce marked spot gold near session highs after the University of Michigan’s preliminary October consumer sentiment index came in at 46.3.
46.3 missed the 47.6 consensus forecast and fell from September’s 48.1, reinforcing signs of weaker household confidence.
4.7% year-ahead inflation expectations and 3.5% long-run expectations both rose from September, reaching their highest levels since May.
High prices and borrowing costs hit durable-goods buying conditions, while lower-income consumers and those with smaller stock portfolios saw sentiment drop steeply.