Gold Falls with US Consumer Sentiment and Inflation Expectations Ease

The gold market experienced a decline on Friday, reaching a session low of $4,549.15 per ounce, following the release of data showing a decrease in US consumer sentiment.

The University of Michigan's final Consumer Sentiment reading for August came in at 51.7, which is below July's final reading of 55.2 and roughly 11% lower than a year ago.

Consumers' shorter-term inflation expectations eased to 4.0%, down from 4.2% in July, but still well above the 3.4% recorded in February before the Iran conflict.