Spot gold trades at $4,029/oz after Consumer Confidence drops to 90.8 in July - KITCO
Spot gold trades at $4,029/oz after Consumer Confidence drops to 90.8 in July - KITCO
Source: KITCO
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DW NOTE
Consumer confidence at 90.8 is the lowest reading since February 2021, when households were still digesting the first wave of inflation. Gold is down $48 from this morning's opening level — when confidence craters, the metal usually rallies, not retreats. The divergence suggests traders are pricing rate cuts that haven't been signaled rather than the inflation re-acceleration still visible in PPI at 5.51%.