GOLD CORRECTS BACK AFTER US DATA SHOWS PESSIMISM MIXED WITH INFLATION FEARS

• Gold falls after US Consumer Sentiment data shows a sharp decline in optimism and higher inflation expectations. 
• Higher inflation could keep interest rates elevated, reducing the attractiveness of non-yielding Gold. 
• Uptrending XAU/USD corrects back and puts pressure on a key support level. 

Gold price (XAU/USD) corrects back, falling a half a percent to the $2,340s on Monday after US Consumer Sentiment data suggested interest rates may remain higher for longer, reducing Gold’s attractiveness as a non-yielding asset.