Last week's consumer confidence number came in weaker than expected, but surprisingly it is causing little effect on the U.S. dollar or the recent rally in precious metals – neither the SPDR Gold Trust (GLD 0.34%) nor the iShares Silver Trust (SLV 2.72%) reacted much to the news. While the headline consumer confidence number fell, the short-term outlook was quite positive; one-year inflation expectations also rose, likely explaining why precious metals held strong.
In the video below, Fool.com contributor Doug Ehrman discusses why the report had little immediate influence on metals, and what the longer-term effects might be given the current environment.
