Gold surges $50, as US consumer sentiment falls & geopolitical tensions rise [Video]
|Consumer sentiment in the United States fell by more than expected so far this month, according to new figures.
Data from the University of Michigan’s consumer sentiment survey showed a decline to a reading of 63.00.
Markets expected a more moderate decline to 67.2, after last month’s reading at 68.2.
Following the report, Joanne Hsu, the director of the survey said, "Nearly all demographic groups posted setbacks in sentiment, reflecting the continued weight of high prices."
In addition to this, the call by the Israeli government to evacuate Gaza, has prompted many to believe a ground invasion is imminent.
Gold surged by over $50 on the news.
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