Gold slips toward $4,020 as consumer sentiment rebounds

The final reading for the July Consumer Sentiment survey hit 55.2, comfortably outpacing the 54.0 consensus forecast and June’s final figure of 49.5. According to Surveys of Consumers Director Joanne Hsu, the gains were broad-based, spanning all income and age demographics. Five-year business outlooks reached a 12-month peak, even as overall sentiment remains constrained by long-term price pressures.

While sentiment improved, year-ahead inflation expectations dipped from 4.6% in June to 4.2% this month. Despite the decline, the figure remains elevated compared to the 3.4% level recorded in February. Longer-term inflation expectations held steady at 3.3%, keeping the market focused on purchasing power as gold struggled to maintain its footing following the 10 am ET data release.