Gold price holding on to $1,900 as U.S. Housing market remains healthy

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

( Kitco News ) – The gold market continues to tread water around $1,900 an ounce even as the U.S. sees some slowing momentum in the housing sector.

Tuesday, the Commerce Department said that U.S. September housing starts rose by nearly 2% to a seasonally adjusted annual rate of 1.415 million units.

However, the data missed expectations as consensus forecasts compiled by most news organizations called for starts to be around 1.457 million units. August tally was revised to 1.388 million units.Gold is seeing little reaction to the latest housing sector data. December gold futures last traded at $1,906.50 an ounce, down 0.24% on the day.Meanwhile, the Commerce Department said the tally of building permits – important as an […]

Click here to view original web page at www.kitco.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.