Gold prices fall, as consumer confidence rebounds, Facebook revenue fails to meet expectations [Video]
|Gold prices fall, as consumer confidence rebounds
The price of Gold fell earlier in Tuesday’s session, as consumer confidence in the United States unexpectedly rebounded.
Figures from the Conference Board reported that its consumer confidence index climbed to 113.8 in October, after finishing at 109.8 September.
Today’s reading ends three consecutive months of declines, and surpasses market expectations for a 108.3 dip.
Gold prices dropped on the news, with XAUUSD hitting an intraday low of $1,782, after opening the session trading at $1,807.
In addition to the Dow Jones, the S&P 500 was also higher, trading marginally higher as of writing.
Facebook revenue fails to meet expectations
Facebook shares were trading lower today, as the company reported its Q3 earnings after yesterday’s closing bell.
The tech giant reported revenue for the quarter came in at $29.01 billion versus expectations of $29.57 billion.
One positive however was earnings, which beat forecasts, coming in at $3.22 per share, better than the expected sum of $3.19.
In addition to this, the company stated it was focusing more on a younger audience, with CEO Mark Zuckerberg stating that,“Over the last decade as the audience that uses our apps has expanded so much and we focus on serving everyone, our services have gotten dialed to be the best for the most people who use them rather than specifically for young adults”.
The company aims to invest more in developing its “reel” based content, in a bid to compete further with TikTok in attracting the 18 - 29 age group.
As of writing, $FB was trading 5.08% lower.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.