Gold price trades near high after preliminary Consumer Sentiment falls to 46.3, inflation expectations rise

(Kitco News) - The gold market is trading not far from session highs after the latest data showed consumer sentiment in the U.S. declining further, with inflation expectations rising higher.The University of Michigan announced on Friday that the preliminary reading of its Consumer Sentiment survey for October was 46.3. The data was worse than expectations, as the consensus forecast of economists called for a reading of 47.6, and it was also well below September’s final reading of 48.1.