{"id":923187,"date":"2026-10-10T15:45:23","date_gmt":"2026-10-10T15:45:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/923187\/"},"modified":"2026-10-10T15:45:23","modified_gmt":"2026-10-10T15:45:23","slug":"gold-price-trades-near-high-after-preliminary-consumer-sentiment-falls-to-46-3-inflation-expectations-rise","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/923187\/","title":{"rendered":"Gold price\u00a0trades near high\u00a0after\u00a0preliminary\u00a0Consumer Sentiment\u00a0falls\u00a0to\u00a046.3, inflation expectations\u00a0rise"},"content":{"rendered":"

(Kitco News) – The gold market is trading\u00a0not far from session highs\u00a0after the latest data showed consumer sentiment in the U.S.\u00a0declining further, with inflation expectations\u00a0rising higher.<\/p>\n

The University of Michigan announced on Friday that the\u00a0preliminary\u00a0reading of its Consumer Sentiment survey for\u00a0October\u00a0was\u00a046.3. The data was\u00a0worse\u00a0than expectations, as the consensus forecast of economists called for a reading of\u00a047.6, and it was also well below September\u2019s final reading of\u00a048.1.<\/p>\n

\u201cConsumer sentiment was little changed this month, inching down a scant 1.8 index points from September,\u201d said Surveys of Consumers Director Joanne Hsu. \u201cWhile year-ahead expectations for personal finances and business conditions crept up slightly, buying conditions for durables plummeted amid high prices and borrowing costs. Increases in sentiment among Democrats and Republicans were offset by a decline among independents this month.\u201d<\/p>\n

\u201cOverall, sentiment for lower-income consumers and those with smaller stock portfolios dropped steeply this month, groups that have fewer resources to weather increases in prices,\u201d she added. \u201cFrustration over cost-of-living continues to mount, as consumers across the political spectrum believe that the trajectory of the economy has weakened since the beginning of the year.\u201d<\/p>\n

Spot gold\u00a0continued to trade near the upper edge of its daily range in the minutes following the 10 am ET data release, and last traded at $4,188.36 per ounce for a gain of 1.32% on the day.<\/p>\n

\"article<\/p>\n

The\u00a0October\u00a0index showed\u00a0another rise in year-ahead inflation expectations, while longer-run expectations also ticked higher.<\/p>\n

\u201cYear-ahead inflation expectations ticked up from 4.6% last month to 4.7% this month,\u201d Hsu wrote. \u201cThe current reading substantially exceeds the 3.4% seen in February before the Iran conflict began, along with all 2024 readings. Long-run inflation expectations also stepped up from 3.4% in September to 3.5%, notably higher than their 2024 range of 2.8% to 3.2%. Inflation expectations over both time horizons increased for the second straight month to their highest readings since May.”<\/p>\n

Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"(Kitco News) – The gold market is trading\u00a0not far from session highs\u00a0after the latest data showed consumer sentiment…\n","protected":false},"author":2,"featured_media":923188,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,5307,5294,99,5299,5301,5293,5304,5297,164,5295,5298,5305,5284,5306,5296,5283,5308,5290,5309,5292,5287,5288,5286,5289,84,5291,5303,5310,5285,5302,5300],"class_list":["post-923187","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-bank-forecasts","tag-bitcoin-news","tag-business","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-economy","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-international-policy","tag-interviews","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-tech-metals","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/923187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=923187"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/923187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/923188"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=923187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=923187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=923187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}