Gold Under Stress Following Upbeat US Consumer Confidence Data

Gold Silver Reports — Gold slipped from its one month high as positive undertone in equities and sound US economic data pulled the metal lower. COMEX Gold is currently quoting down 0.48% at $1253 per ounce. MCX Gold futures are also down 0.60% at Rs 28675 per 10 grams. US stocks moved mostly higher over the course of the trading session on Tuesday. With the upward move on the day, the Dow managed to end an eight-session losing streak.

Consumer confidence in the US improved in the month of March, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index jumped to 125.6 in March from a revised 116.1 in February. With the unexpected increase, the consumer confidence index climb to its highest level since reaching 128.6 in December of 2000. The Conference Board said the present situation index rose to 143.1 in March from 134.4 in February, while the expectations index increased to 113.8 from 103.9. — Neal Bhai Reports

Gold Under Stress Following Upbeat US Consumer Confidence Data | Gold Silver Reports

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