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Gold Prices Still Positive Following Positive Pending Home Sales Numbers

(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.

By Neils Christensen of Kitco News; nchristensen@kitco.com

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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