Gold prices reached $3,828.33 per ounce following the release of strong U.S. housing market data. The Pending Home Sales Index rose by 4% in August, significantly exceeding analysts’ expectations of 0.3%, while July’s reading was revised to -0.3%.
Transaction activity increased across the West, South, and Midwest regions, while sales declined in the Northeast. On an annual basis, pending home sales rose by 3.8%, surpassing expectations of 1.9%, with gains recorded across all regions.
Lower mortgage rates helped many buyers sign contracts, according to Lawrence Yun, Chief Economist of the National Association of Realtors. The Realtors Confidence Index also showed that 19% expect increased buyer activity over the next three months.
The data تشير إلى استقرار محتمل في سوق الإسكان after years of weakness, which in turn supported demand for gold as a safe-haven asset.
