Gold price price under pressure but holding support at $2,150 as U.S. housing construction jump 10.7% in February
(Kitco News) - The gold market remains under pressure but continues to hold support above $2,150 an ounce even as the U.S. housing sector shows some signs of stabilization as construction of new homes picks up.Tuesday, the U.S. Commerce Department said that residential construction jumped 10.7% last month to a 1.521 million annualized rate, up from January’s revised rate of 1.374 million. The latest housing market data significantly beat expectations; according to consensus estimates, economists were looking for starts to rise to 1.43 million.