US Prelim UoM Consumer Sentiment

Silver extends advances, follows rallying gold prices. The silver futures contract gained 3.21% on Friday, September 13, as it accelerated its Thursday’s rally of over 4%. It reacted to a record-breaking advance in gold prices, gaining stock market. On Friday, silver broke above its local high from August 28 and was the highest since July 17. In late August, it pulled back from the $30 level, and on the previous Wednesday, it approached the $28 level. On August 8, silver rebounded from a new local low of $26.50; it was the lowest ...

US consumer sentiment unexpectedly declined to the lowest level in eight months in early July as high prices continued to weigh on Americans' views of their finances and the economy. The sentiment index fell to 66 in July from 68.2, according to the preliminary reading from the University of Michigan. The median estimate in a Bloomberg survey of economists called for a slight increase to 68.5. Consumers' expectations for inflation over the next year fell for a second month, to 2.9%, data Friday showed. They saw costs rising at an ...

Gold has recovered from last week's lows to finish up over 1%. Bob Iaccino has more.

Consumer sentiment slumped as inflation expectations rose, despite otherwise strong signals in the economy, according to a closely watched survey released Friday. The University of Michigan Survey of Consumers sentiment index for May posted an initial reading of 67.4 for the month, down from 77.2 in April and well off the Dow Jones consensus call for 76. The move represented a one-month decline of 12.7% but a year-over-year gain of 14.2%. Along with the downbeat sentiment measure, the outlook for inflation across the one- and ...