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

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

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( 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 […]

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