Consumer sentiment in the U.S. unexpectedly cooled in August after two months of improvement. The University of Michigan's Consumer Sentiment Index dropped to 58.6, down from 61.7 in July and missing expectations of 62. This is the first decline in four months, bringing the index to its lowest level since May. The decline was mainly due to a significant drop in how Americans perceive their current financial situation, with the Current Conditions subindex plummeting to 60.9 from 68, well below the forecasted 67.9. The Expectations subindex saw a slight decrease from 52.7 to 52.2 but remained above the expected 56.5. Inflation concerns resurfaced, with inflation expectations rising sharply.GLD ETF is witnessing rapid movement.