Gold Prices Still Positive Following Positive Pending Home Sales Numbers
Thursday October 27, 2016 10:10
(Kitco News) -Gold prices remain positive on the day following housing data that shows more consumers started the process of buying a home last month.
Thursday, the National Association of Realtors (NAR) said that its pending home sales index rose 1.5% in September to a reading of 110, compared to August’s revised level of 108.4. The data was better than expected as economists were expecting a rise of 1.2%.
The report noted that this is the fifth highest reading for the index so far this year.
Gold prices have lost some ground since hitting session highs following weaker than expected durable goods orders data, but still remain in positive territory. December gold futures last traded at $1,267.70 an ounce up 0.09% on the day.