Gold Holds Firm Above $4,300 Amid US Housing Market Weakness

Gold prices have continued to hold above $4,300 an ounce as the US housing market shows signs of weakness. The Pending Home Sales Index rose slightly by 0.3% in August, beating expectations, but the overall market remains fragile with a 4.7% annual decline.

The recent 25 basis point rate hike and signals of continued tightening from the Federal Reserve to curb inflation are contributing to economic uncertainty.

This fragility in housing could sustain safe-haven demand for gold going forward.