Weaker Consumer Sentiment Fails to Dent Gold Prices

The Consumer Confidence Index fell to 89.4 in August, down from July's reading of 90.8 and below the anticipated figure of 90.3.

This decline was driven by weakness in forward-looking sentiment, with the Expectations Index dropping 5.8 points to 68.2.

The Present Situation Index, which measures consumer views on ongoing business and employment conditions, rose 6.8 points to 121.2, ending a three-month streak of declines.

The gold market has barely reacted to the weaker-than-expected sentiment figures, with spot gold trading at $4,622.70 per ounce, off 0.62% for the session.