Spot gold above $5,065/oz after U.S. Consumer Confidence falls to 84.5 in January

NEW YORK (January 27) Gold prices stayed strong after the latest data showed U.S. consumer sentiment declining more than expected this month.

The Consumer Confidence Index dropped to 84.5 in January, well below economists’ consensus forecast for a 90.9 reading and also down from the unrevised 89.1 print from December, the Conference Board announced on Tuesday. 

Gold prices continued to trade in the upper third of their daily range following the 10 am EST data release, with spot gold last trading at $5,065.36 per ounce at the time of writing for a gain of 1.12% on the daily chart.

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