US sales of new homes disappoint, gold prices are approaching daily highs


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(News Kitco) – Gold prices have remained broadly unchanged following a lack of new home sales data in the United States since July.

Sales of new homes fell by 12.8% last month to a seasonally adjusted annualized rate of 635,000 homes, the US Department of Commerce said on Friday. June sales were revised at a rate of 728,000 units of 646,000 units.

The market consensus demanded that sales fell 0.2% to 649,000 units in July.

Gold prices remained close to the daily highs following data from December Comex gold futures traded at $ 1.515,30 per ounce, up 0.45% on the day.

On an annual basis, sales of new homes increased by 4.3% compared to the estimate last year of 609,000 units.

Looking at house prices, the report states that the average selling price of homes sold last month was $ 312,800, while the average price was $ 388,000.

The inventory of homes for sale at the end of July was 337,000, representing a supply of 6.4 months at the current sales rate.

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