Gold slips after jump in consumer confidence

Friday, 17. May 2019 17:11

The price of gold fell 0.80% on Friday, the biggest one-day percentage drop in April as investors turned to stocks and away from safe have assets, while also reacting to higher-than expected consumer confidence which, according to the Michigan Consumer Sentiment Index published earlier in the day stood at 102.4, the highest reading in the last decade and a half.

Gold dipped 0.76% at 11:06 am ET, to go for $1,276.75 per ounce. Palladium also kept sliding, losing 1.16% at the same time, to sell for $1,319.44 per ounce. Meanwhile, platinum slid 1.63%, changing hands for $820.93 per ounce at 11:08 am ET. Silver declined 0.89%, going for $14.43 per ounce at 11:09 am ET.

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