The Conference Board’s consumer confidence report ticked lower in September by nine points. The CB consumer confidence index fell to 125.1 in September, down from 134.2 in the month before.
The present situation index fell to 176.0 to 169.0 during the month. The risk-off sentiment also added to the gains late in the evening.
Will XAU/USD Rise Higher?
The precious metal continues to push higher amid lack of a test of the support level at 1508. If the current momentum persists, gold could test the near-term price point of 1545. Establishing resistance at this level will keep a lid on the gains in the near term. It would also confirm a lower high forming at this level. The price action will potentially confirm the overdue downside bias.
