US consumer confidence

According to new stats from the Conference Board US consumer confidence increased more than expected this month to its highest level in 8 months since May 2010. The growth was supported by growing optimism about the economy and the jobs market.

The Conference Board says that its index of consumer attitudes jumped to 60.6 in January, the highest since May 2010, from an upwardly revised 53.3 in December.

Wednesday in Shanghai, bullion prices slid as modest growth in US consumer confidence and improved home prices eased some worries of another downturn in the US.

Spot gold prices eased by 0.3% or $3.19, slipping to $1,245.80 an ounce by 2:56 GMT, easing from a two-month peak of $1,249.90 hit on Tuesday. Precious metal’s prices slid after touching a two-month high on Tuesday as investors continued to worry about the prospects of the global economy and sought refuge in the yellow metal.