The latest data from the U.S. Census Bureau and the Department of Housing and Urban Development arrived slightly above analyst expectations of 651,000 units. Despite this marginal outperformance, the broader trend remains negative, compounded by a downward revision of 4,000 units for August figures. The housing sector's ongoing struggle highlights the economic friction currently weighing on domestic demand.
Gold Stays Firm Near $4,000 Amid Housing Market Slump
A 0.6% decline in U.S. new home sales to an annualized rate of 676,000 units has failed to rattle the gold market, which continues to find support above $4,000 an ounce. While the housing sector faces a persistent 12.5% annual contraction, investors remain focused on bullion as a safe-haven asset.
Spot gold prices climbed 0.70% to reach $4,044.20, showing limited sensitivity to the housing report's specific metrics. The metal's resilience suggests that market participants are prioritizing macroeconomic uncertainty and safe-haven positioning over fluctuations in real estate sales data.
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