Spot gold trades at session high $2,620/oz as final UofM Consumer Sentiment confirms 74 reading in December
Portfolio Pulse from
Spot gold prices reached a session high of $2,620 per ounce following the confirmation of a 74 reading in the University of Michigan Consumer Sentiment index for December.
December 20, 2024 | 3:30 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The rise in spot gold prices to $2,620/oz could positively impact AAAU, a gold-backed ETF, as it reflects increased investor interest in gold.
AAAU is a gold-backed ETF, and its performance is directly tied to the price of gold. The increase in spot gold prices suggests a potential rise in AAAU's value. The confirmation of consumer sentiment data may have influenced investor behavior, leading to increased demand for gold as a safe-haven asset.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80