Gold gaining and holding on to its price on consumer confidence

Gold is making moves higher and holding on to its price gains despite Consumer Confidence Index data exceeding analyst expectations. The precious metal is gathering strength even as the latest figures show consumer confidence is reaching pre-pandemic levels – because for many, this economic uptick is an additional sign that inflation worries are now founded.

In trading this morning (Wednesday) gold is circling around £1,272 ($1,768) meaning it’s edging closer to the important £1,296 ($1,800) threshold. With gold set to be a hedge against inflation as the economic recovery rolls out, there’s no better time to buy.

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest