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Gold declined further
Gold slid to $1,126.10 (-0.06%) after a report showed that U.S. consumer confidence rose in September. Confidence is not yet spending, but many analysts take it for a sign of improvements in the U.S. economy, which suggests that the Federal Reserve can actually raise rates by the end of this year. The consumer confidence index rose to 103.0 in September from 101.5 in August (revised from 101.3), while economists had expected a reading of 96.1 points. 25.1% of respondents said that there were enough jobs (vs 22.1% in the previous month).
Official data by the People's Bank of China showed that China's gold reserves rose to 54.45m troy oz in August from 53.93m oz in July.
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