(Kitco News) – The gold market is on the shelves of profit, but the confidence of United States consumers is far more than expected in December.
Thursday, the US Conference Committee, said Consumer Confidence Index made 128.1 readings in the beginning of November in 135.7 years of the year. As data were expected to be weaker, economists demanded 133.7 readings.
The data will continue on Wednesday's report that it was the best six-year holiday season for this year's holiday season. According to some economists, the strong consumer confidence is more prone to consumer consumption.
Gold prices were ahead of the report in a positive country, finding some of the weakest US dollar and profit-making markets. However, yellow metal does not see a great reaction to the data. In February, gold futures were marketed for the last year for 1,273.90 dollars ounces, 0.05% per day.
According to the report, United States consumers are increasingly concerned about future economic growth. Expectations Index dropped dramatically, in December, 99.1, November reading 112.3.
Current forecasts only dropped slightly 171.6, 172.7 compared to the previous reading.
"While consumers have had significant remarks at the end of 2018 when the reversals are reduced, the growing concern will be that the pace of economic growth will begin to moderate in the first half of 2019," Lynn Franco, CEO of the Economic Indicators Committee
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