American consumer confidence index rose to 127.3 in june, from May's upwardly revise reading of 120.0, the U.S conference board reported Tuesday. Economists were expecting to see the index at a reading of 119.
Gold price tumble to 2.5 moths lows right before the data was released amid a stronger U.S dollar. Gold remained under pressure following Jun's consumer confidence number with August comex gold futures last donw more than 14% on the day and trading at 1,754.30$ an ounce.
The present situation Index which describes consumers' views on current business and labor market condition, advanced to 157.7 . At the same, the expectation Index which represents consumer's short team outlook on income, business, and labor market condition, rose to 170 from 100.00.
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