The current price of gold has broken all-time highs again in early Asian trade following a decline in the United States (US) consumer confidence survey data according to the Conference Board.
It was also driven by the decline in US Treasury yields and the latest US dollar currency which was able to give a jump to the current gold value to the highest price peak of $2,664.
At 9.20am, the price of gold was at $2,661.24, up 0.15% since it opened in early trading on Wednesday.
The Conference Board revealed that consumer confidence fell in September to the lowest level since August 2021 due to growing concerns about the labor market and the overall economic outlook.
Meanwhile, Fed Governor Michelle Bowman stated that the risk of inflation remains significant and she is of the opinion that the Fed will implement sensible cuts to avoid the risk of inflation again.
Based on political media reports, Axios reports that tensions in the Middle East are rising as Hezbollah seeks full support from Iran to launch an attack on Israel.
