Gold Rebounds From Payrolls Lows as US Sentiment Hits 51 and Inflation View Slips to 4.3%
Updated
Updated · Kitco NEWS · Nov 6
Gold Rebounds From Payrolls Lows as US Sentiment Hits 51 and Inflation View Slips to 4.3%
3 articles · Updated · Kitco NEWS · Nov 6
Summary
$4,047.71 spot gold trimmed losses after the 10 a.m. ET release, though it still traded down 0.96% on the day.
University of Michigan's preliminary November consumer sentiment reading rose to 51 from 48 in October, beating the 48 consensus and signaling a modest improvement in household confidence.
Inflation expectations eased at the same time, with year-ahead views falling to 4.3% from 4.7% and long-run expectations dipping to 3.4% from 3.5%.
Consumer finances and business-condition views improved mainly among independents, but 57% still said high prices were eroding living standards, and overall sentiment remains 10% below February.
The survey, conducted from Oct. 20 to Nov. 2 before the midterm election, also showed AI-bubble worries lingering even as cost-of-living concerns remained dominant.