(Kitco News) - Gold prices are trading near their session highs on Friday morning after the latest data showed the U.S. housing market improving in June.
New home sales rose 1.6% last month, lower than the expected 3.4% increase, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced.
New home sales came in at a seasonally adjusted annualized rate of 628,000 in June. The numbers were better than forecasts, as the market consensus expected sales of 610,000 units. May’s sales were also revised up to 618,000 from 580,000 units.
On an annual basis, new home sales were down 5.6% from the June 2025 rate of 665,000.
Looking at home prices, the median sales price for new homes last month was $398,300, and the average sales price was $475,000. As of the end of June, the inventory of houses for sale was 485,000, representing a 9.3-month supply at the current sales rate.
Economists continue to pay close attention to the U.S. housing market as it is a major contributor to economic activity. The housing sector has struggled after the Federal Reserve aggressively raised interest rates at the fastest pace in 40 years.
Spot gold spiked to a session high of $4,069.98 at the moment of the 10 am ET release, and last traded at $4,061.76 per ounce, up 0.30% on the day.
